Polar Capital owed $2.8m in Pricewise liquidation

Pricewise had 18 sites in 2020, now the last one is closing.

Fri, 25 Feb 2022

Colin Neal’s Polar Capital is owed $2.8 million which it lent discount retailer Pricewise before its demise, a first liquidator’s report reveals.Polar Capital bought the makeup retailer for $2.32m out of receivership back in October 2020.The first report of BDO liquidators Kenneth Brown and Thomas Manning also noted a loan of $400,000 to Holdco 2 Invest Pty Limited.Trade creditors are owed more than $482,000, while a secured loan to the BNZ bank had been discharged, the report dated Feb 24 noted.Other creditors listed on the re...

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