Nosh sale deadline extended

The $3.98 million sale of grocery chain Nosh has been extended by a week. Photo / Dean Purcell
The $3.98 million sale of grocery chain Nosh has been extended by a week. Photo / Dean Purcell

The $3.98 million sale of grocery chain Nosh has been extended by a week.

NZX-listed holding company Veritas is selling Nosh to Gosh Holdings in order to repay Veritas' debt to ANZ.

In a release to the NZX today, Veritas said the date for completing the sale had been extended by a week, to February 17.

"The extension has been granted to facilitate transition of the business to Gosh Holding, including completion of the arrangements with employees and landlords about the transfer of their contracts to Gosh Holding," the release said.

The Herald reported in November that Nosh franchises had gone up for sale.

Veritas originally agreed with ANZ to unconditionally sell Nosh with an original deadline of January 15 or wind the business up.

ANZ agreed to extend the deadline to the end of the month after which Veritas said it had "received a number of approaches from potential purchasers of Nosh" and that the board was "in discussions with several parties in relation to a potential sale of Nosh".

- NZ Herald

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2017, NZME. Publishing Limited

Assembled by: (static) on production apcf04 at 30 May 2017 07:16:33 Processing Time: 1368ms