Retail

Why Foodstuffs won't charge suppliers for shelf space anymore. By Rebecca Stevenson

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Kinleith fails to front for $24.6m factory purchase

Brent Melville
Mon, 09 Nov 2020

The sale of Cavalier Corp’s Auckland manufacturing site is not a done deal just yet, after the firm served a settlement notice on Kinleith Land and Infrastructure following its failure to settle the $24.6 million deal by the Nov. 6 deadline.Shareholders of the carpet manufacturer signed off on the sale and leaseback of the South Auckland facility in September as part of a plan to repay debt and fund a wool-only strategy.In a statement today, Cavalier said Kinleith defaulted on the agreement and has 12 working days to remedy that.Kinleith,...

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