Postie Plus sold as going concern to Sth African investment group

Fri, 18 Jul 2014

By Pattrick Smellie July 18 (BusinessDesk) - Ailing clothing retailer Postie Plus has been sold for an undisclosed sum as a going concern to Roan Ltd, a subsidiary of Pepkor, a South African-based investment group with clothing and footwear retail interests in Australia and Eastern Europe. News of the deal began to leak after staff received letters on Roan letterhead. Some 530 of the Auckland-based company's 560 staff have accepted positions with the new owner. Postie Plus shares have been suspended from trading on the NZX since May 29...

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