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Pricewise sold for $2.3 million, report shows
20 Dec, 2020 09:00 PM
2 minutes to read
Aimee Shaw is a business reporter focusing on retail, small businessaimee.shaw@nzherald.co.nz@AceeyShaw
Documents relating to the previous owner of health and beauty retailer Pricewise show the company and its distribution arm changed hands for $2.3 million.
The retail chain sold for $1.45m while its distribution channel Zenith Distribution sold for more than $863,000.
Price Wise Limited, which once operated 16 Pricewise stores nationwide, was placed into receivership in August and liquidation on October 30, following the sale of company assets.
The retailer was sold to its former major shareholder and Smiths City owner Polar Capital - owned by Colin Neal in September - at the time the purchase price was undisclosed.
Covid-19 reset: Bay of Plenty businesses adapt and bounce back
19 Dec, 2020 06:00 PM
10 minutes to read
Demand from people looking to buy businesses in the Bay is outstripping supply as economic confidence in the region bounces back post-Covid-19. Experts say owners were in recovery mode - there had been fewer insolvencies - and some businesses had reported they were busier than the same time last year and needed more staff.
They say the Government s support package, including wage subsidies, and strong consumer spending in the region have no doubt played a part in the bounceback.
The biggest challenge for business owners now was a shortage of stock heading into the festive season and the New Year.