Postie Plus warns of further potential breaches of banking covenants

Tue, 04 Dec 2012

Dec. 5 (BusinessDesk) - Postie Plus Group, the retailer forced to renegotiate terms of its loans with Bank of New Zealand in October, says it has identified further potential covenant breaches and will be back in talks with its lender. “Although it is not clear to PPGL whether breaches will in fact occur, the company will advise the BNZ and discuss the bank’s requirements for the relevant periods,” the Christchurch-based company said in a statement. The potential breaches are for the months of November as well as January and April next year,...

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