Veritas investigating sale or merger of Better Bar Co

Tue, 27 Feb 2018

By Paul McBeth Feb. 27 (BusinessDesk) - Veritas Investments is investigating a sale or merger of its profitable Better Bar Co as the NZX-listed firm seeks ways to repay lender ANZ Bank New Zealand. The Auckland-based company has been granted three lifelines by its lender, which is owed almost $27 million as at Dec. 31, as it sells assets to repay that debt. It exited the unprofitable Nosh supermarkets last year and has a conditional agreement to sell the Mad Butcher franchisor to chief executive Michael Morton, with an independent advise...

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