Gourmet ice cream company out of flavour as sales melt; capital sought

Gourmet ice cream company out of flavour as sales melt; capital sought
Domestic sales of the company’s main product, G’nature gourmet ice cream, fell by nearly 100%. (Image: Getty/Supplied)
Denise McNabb
Annual accounts filed three months late by gourmet ice cream manufacturer Allied Faxi New Zealand Food Co paint a grim picture of escalating losses. Efforts are also afoot to either extend a loan or ask its banker (HSBC) or another lender for new working capital of around $12 million.Domestic sales of the company’s main product, G’nature gourmet ice cream, along with other dairy foods, fell by nearly 100% while exports to China fell 37.5% in the year to Dec 31, 2024.As a result, the majority Chinese-owned company, operating out of a...

More Retail

Mitre 10 starts banking IT project gains
Retail

Mitre 10 starts banking IT project gains

The hardware store chain has gained share in a tough market.

Pattrick Smellie 25 Oct 2025
Massive Pōrangahau fire largely contained after spreading to pines planned for Ikea furniture
Retail

Massive Pōrangahau fire largely contained after spreading to pines planned for Ikea furniture

A 245-hectare fire burning its way through forest near Pōrangahau, Central Hawke’s Bay, is likely to continue to cause firefighters headaches over the next week. Ingka Investments Management New Zealand operations manager Dylan Foster said roughly 80 hectares of their 550-hectare...

Staff reporters 22 Oct 2025
You can make ChatGPT your personal shopper
Retail

You can make ChatGPT your personal shopper

While you’ll need to fact-check the chatbot, it’s useful for comparing prices.

Macpac NZ profits drop 71% as softer sales hit margins
Retail

Macpac NZ profits drop 71% as softer sales hit margins

The sales drop in New Zealand was larger than Kathmandu's.

Gregor Thompson 17 Oct 2025