Capital not covid reason for major dairy receivership

Fri, 23 Apr 2021

Capital structure issues, not covid has caused the receivership of companies in the Van Leeuwen Dairy Group, Calibre Partners receiver Brendon Gibson said today.He would not be drawn on the size of the debt.Gibson and his team are now in control of the substantial South Island dairy group which milks 10,000 cows and has 8,000 hectares under management.The receivers say the companies are profitable and they will continue to trade as normal and work on a turnaround plan.Receivers were appointed on Wednesday by Australian financier Merricks Capita...

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