Veritas bank deadline on Nosh extended to Feb. 2 by ANZ

Tue, 31 Jan 2017

By Sophie Boot Jan. 31 (BusinessDesk) - Veritas Investments has been given a second extension to either sell or begin winding up its Nosh food supermarkets by its lender, ANZ Bank New Zealand. The food and beverage investor took on a $5 million funding line with ANZ to buy the Nosh stores in 2014 but has struggled to turn the gourmet supermarkets into a profitable business. Veritas renegotiated its banking arrangements in October to reduce its repayments and reschedule its debt, as its Mad Butcher and Nosh businesses weighed on the group....

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