Kirkcaldie shareholders call time on 152-year-old Wellington store, will get $19.4M

Thu, 30 Jul 2015

By Suze Metherell July 31 (BusinessDesk) - Kirkcaldie & Stains' shareholders have voted in favour of Australian department store chain David Jones taking over the upscale Wellington store, ending a run of 152 years, and will receive $19.4 million in a distribution. At a special meeting in Wellington, shareholders voted in favour of two resolutions, with 99.25 percent approving the sale to South Africa-owned David Jones and 95.61 percent in favour of the company returning cash to them via a court approved scheme of arrangement. Like m...

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