Smith City agrees to buy Furniture City for $5.85M for Auckland foothold

Tue, 19 Jan 2016

By Tina Morrison Jan. 19 (BusinessDesk) - Smiths City, the Christchurch-based retailer which is rejigging its assets to improve earnings, has agreed to buy retailer Furniture City, giving it a foothold in the Auckland market. The company's trading arm Smiths City (Southern) agreed to buy the business and assets of Auckland-based Panmure Furniture City 1983 and its logistics operation Lucky Dragon for $5.85 million, which includes two stores in Auckland, one in Whangarei, an internet store and a distribution facility, it said in a statemen...

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