<\/p>\n
\nKitchen Things went into receivership mid-year.
\nPhoto: Google Maps\n<\/p>\n
It’s been another tough year financially for many New Zealand households and businesses.<\/p>\n
While some commentators said in 2024 that businesses needed to focus on the mantra “survive til 2025”, for some it was a case of battling to survive through the year, too.<\/p>\n
Some high-profile names didn’t make it.<\/p>\n
Here are 10 that did not see out the year, in no particular order.<\/p>\n
GrabOne<\/p>\n
Grab One left a lot of voucher-holders worried when it went into liquidation in October<\/a>, owning more than $16.5 million.<\/p>\n GrabOne was launched in 2010 and offered discounts on goods and services for local businesses. It was sold to Global Marketplace New Zealand by former owner NZME in 2021, for $17.5m.<\/p>\n But marketing expert Bodo Lang, of Massey University, told RNZ that GrabOne’s problem was that it failed to provide value to its target market.<\/p>\n “In other words, its vouchers, which were once upon a time exciting, had lost their appeal.<\/p>\n “A closely related second reason for GrabOne’s liquidation is that it suffered from declining top of mind brand awareness. While GrabOne was on everybody’s mind and in every dinner conversation some years ago, a lack of brand investment meant that the brand was slowly buried amongst advertising by other brands.”<\/p>\n Kitchen Things<\/p>\n Even suppliers of bougie kitchen supplies couldn’t make it through the downturn unscathed<\/a>.<\/p>\n Kitchen Things went into receivership in August, citing weak consumer demand and tough competition.<\/p>\n Kitchen Things was founded in 1986 and dealt in high end international appliance brands including Smeg, Miele, Asko, and Bosch.<\/p>\n The Hamilton shop was not affected because it was run by an independent franchisee.<\/p>\n Smiths City<\/p>\n Smiths City was placed into voluntary administration in September<\/a>, sending shockwaves through Christchurch in particular.<\/p>\n The company, which was founded in 1918, has nine stores across the country and an online shop.<\/p>\n Administrators BDO said the company had faced increasing financial pressures amid a challenging economic environment.<\/p>\n Smith & Caughey<\/p>\n Queen St landmark Smith & Caughey closed its doors for the last time on July 31<\/a>, after almost 150 years.<\/p>\n It had already closed its Newmarket branch in 2024 and reduced the inner-city shop to one floor.<\/p>\n The retailer cited increased competition from new shopping malls, continued economic uncertainty and low consumer confidence and spending power as problems that led to the closure.<\/p>\n It also said Queen St foot traffic had decline and parking was more expensive for shoppers.<\/p>\n Fortune Favours<\/p>\n Wellington brewery Fortune Favours announced in August that it would close its Wellington bar by the end of the month.<\/p>\n The company said the cost of living crisis had become too difficult to navigate.<\/p>\n Garage Project took over the site.<\/p>\n NZSale<\/p>\n NZSale closed to New Zealand orders at the end of November. The Australian business, OzSale, is set to close in the new year.<\/p>\n Timeless Events<\/p>\n Timeless Events, the company behind the Juicy Fest music festival, was placed into voluntary liquidation in March<\/a>.<\/p>\n Juicy Fest was cancelled in New Zealand this year after it was declined a liquor licence in Auckland.<\/p>\n The Body Shop<\/p>\n Millennials across the country mourned the end of dewberry-scented The Body Shop when it went into liquidation<\/a> in April.<\/p>\n All of the New Zealand shops closed and 70 jobs were lost.<\/p>\n The Body Shop was founded in the UK in 1976 by Dame Anita Roddick, but problems with the UK business spelled the end locally, too.<\/p>\n It went into liquidation with millions of dollars in liabilities.<\/p>\n In November, it was announced that the brand had a new franchise owner and a shop in Richmond<\/a>, near Nelson.<\/p>\n Libelle Group<\/p>\n School lunch provider Libelle Group went into liquidation<\/a> in March.<\/p>\n It had been contracted to Compass to supply lunches for the beleagured scheme.<\/p>\n DFS<\/p>\n