Yet Kumar s vision of a mega-store could have worked, according to some in the industry. Since the liquidation, Kumar has not commented to media, but off the record friends say that he is a man respected in his community and the retail sector.
JASON DORDAY/Stuff
Vinod Kumar discusses his vision for his Nido homeware and furniture store in 2019. He is president of the Hindu Council and had considerable experience with Mitre 10 Mega, one of the country s first big box retailers. Kumar was also not a man adverse to risk. Coming from Fiji to New Zealand to study civil engineering, he reportedly put his own personal fortune on the line to get Nido off the ground.
He said Waterstone had a record of litigating claims if needed, and there were a number of matters to be investigated, including whether there were inter-company payments or reckless trading. Vijay was the construction company tasked with building Nido, a $60m, 27,000 square metre projected which was aspired to be New Zealand s biggest retail outlet. It opened incomplete in June shortly after the lifting of the Level 4 lockdown and the first liquidators’ report said Vijay’s director was unable to raise more funding to finish the work. Meanwhile, Nido’s receivers Kare Johnstone and Conor McElhinney said the store was still trading and stock had been discounted while the search for a buyer was underway. About 100 staff were waiting to hear about their future.
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