Postie Plus renegotiates banking covenants because of potential breach

Fri, 26 Oct 2012

Oct. 26 (BusinessDesk) - Postie Plus Group has renegotiated its banking covenants with the Bank of New Zealand because there was a possibility it would breach them in October. "Although it was not clear to Postie Plus Group whether a breach would in fact occur, the company advised BNZ and has now reached agreement with BNZ for a change to the company’s banking covenants," the retailer said in a statement to NZX. The change removed any concern about a breach in October 2012. In September, the company reported an annual net loss of $183,000...

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