All remaining stock is being sold at 70% off the lowest in-store ticketed prices.<\/p>\n
But administrators said no refunds will be offered or returns accepted on items purchased.<\/p>\n
Gift cards would also not be accepted in the final days of the liquidation sale, they said.<\/p>\n
Smiths City\u2019s stores in Gore and Greymouth are already out of stock and are closed, while the Dunedin store remains closed.<\/p>\n
\u201cThe administrators want to acknowledge once more the exceptional support and input from Smiths City staff during the stocktake and the liquidation sale,\u201d the administrators said.<\/p>\n
\u201cThe voluntary administration process aims to achieve the best outcome for all stakeholders.\u201d<\/p>\n
The 107-year-old home appliance and furniture retailer went into voluntary administration on September 2.<\/p>\n
The administrators said the retail chain had faced \u201cincreasing financial pressures in a challenging economic environment\u201d.<\/p>\n
\u201cDespite closures of some stores and further downsizing measures, declining sales meant that the director of the company took the decision that trading could no longer continue.\u201d<\/p>\n
The company was founded in Christchurch in 1918, becoming a well-established brand in the South Island.<\/p>\n
Smiths City is today owned by Colin Neal\u2019s investment company Polar Capital, which bought the retail chain in 2020 for $60 million.<\/p>\n","protected":false},"excerpt":{"rendered":"All remaining stock is being sold at 70% off the lowest in-store ticketed prices. But administrators said no…\n","protected":false},"author":2,"featured_media":17141,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[806,138,2199,651,5201,18981,18983,18982,2079,2739,15399,130,111,139,69,659,1133,465,653,1961,1237,810,4767,18980],"class_list":["post-17140","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-as","tag-business","tag-city","tag-close","tag-closed","tag-discounts","tag-draws","tag-embattled","tag-fire","tag-liquidation","tag-massive","tag-more","tag-new-zealand","tag-newzealand","tag-nz","tag-retailer","tag-sale","tag-smiths","tag-stores","tag-this","tag-two","tag-up","tag-weekend","tag-winds"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/17140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=17140"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/17140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/17141"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=17140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=17140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=17140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}