Cavalier selling property to finance wool strategy

Mon, 06 Jul 2020

Plans to sell and lease back its portfolio of properties are part of a range of opportunities to raise funds for Cavalier Corp's natural fibre strategy, said chief executive Paul Alston. Alston told BusinessDesk that listing the firm's three industrial sites, located in Auckland, Napier and Whanganui, is about transforming the company into a high end premium flooring brand rather than strengthening the balance sheet. "We are comfortable with current debt levels," he said, referring to the sale and lease back plans, and noted the firm can...

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