Hellaby to make $5million write-down

Hellaby Holdings says a write-down of goodwill for the BBQ Factory of up to $5 million will be made on June 30.

Hellaby yesterday told the NZX that as part of the due diligence for its proposed Capital Notes issue an interim impairment review of the value of goodwill of the group's investments had been undertaken.

Directors said the proposed sale of Rodd & Gunn (subject to shareholder approval) would generate a gain on sale of some $6 million.