Veritas to ditch Nosh by the end of March to keep onside with ANZ

Wed, 14 Dec 2016

By Paul McBeth Dec. 14 (BusinessDesk) - Veritas Investments will wind up its unprofitable Nosh supermarket business to keep in the good graces of its lender, ANZ Bank New Zealand. The Auckland-based company has until Jan. 15 to advise an unconditional sale of Nosh and, given the uncertainty of finding a buyer, Veritas's board has decided to look at closing Nosh by March 31, it said in a statement. The company had been looking at ways to improve the performance of the Nosh stores, with sale or closure as part of its revised banking facili...

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