STA Travel had $30,000 in the bank

STA Travel had $30,000 in the bank
Rebecca Stevenson
The liquidators of STA Travel say a lack of money held by the failed travel agent means they may need to seek liquidation funding.Deloitte’s Colin Owens and David Webb said in their first liquidator’s report the company was estimated to have assets of $34,000, with $30,000 in bank funding. Trade and other receivables were yet to be confirmed, but the pair estimate a shortfall to creditors of $11.5 million. Preferential creditors are owed $439,000. Unsecured creditors are owed about $11.1 million.The liquidators said they want t...

More Retail

Listed retailers stand to gain from Trump tariffs:  Forsyth Barr
Retail

Listed retailers stand to gain from Trump tariffs: Forsyth Barr

Forsyth Barr lifted its KMD Brands target price by 10.4% after Trump tariff walkbacks.

Gregor Thompson 24 Apr 2025
Fast-food sector in 'consolidation' stage: IbisWorld
Retail

Fast-food sector in 'consolidation' stage: IbisWorld

Higher costs are helping McDonald’s and KFC grab market share.

Gregor Thompson 23 Apr 2025
ComCom clears Woolworths ready-meal deal
Retail

ComCom clears Woolworths ready-meal deal

The Commerce Commission granted clearance for Woolworths Group to acquire ready-meal manufacturer Beak & Johnston.Through facilities in New Zealand and Australia, Beak & Johnston (B&J) makes and supplies ready-to-eat meals under its brands to grocery retailers, wholesalers, and f...

Gregor Thompson 17 Apr 2025
Accent Group plans Sports Direct roll-out in NZ
Retail

Accent Group plans Sports Direct roll-out in NZ

With the help of London-listed Frasers Group, Accent Group will take on Rebel Sport.

Gregor Thompson 16 Apr 2025