Redcurrent’s liquidators fail to sell retailer

Redcurrent went into liquidation in February. Photo / Warren Buckland

NZME

The liquidators of homeware and lifestyle retailer Redcurrent have finished up after just over six months, with the business failing to sell, BusinessDesk reports.

While the Inland Revenue Department and staff got their full amounts, the 62 unsecured creditors owed $2.6 million received nothing.

EY’s Larissa Logan and Rhys Cain were appointed liquidators of the Hawke’s Bay-headquartered company by its shareholders in February, with it owing roughly $5m.

The retailer, which grew to have more than 10 stores, was started by mother-daughter duo Audrey McHardy and Rebecca Kain – the sole director – more than 20 years ago.

The liquidators said a large portion of the time was spent dealing with issues caused by Cyclone Gabrielle, including staff, the store in Auckland, and the distribution centre in Havelock North.

Click here for the full BusinessDesk story.