{"id":623603,"date":"2026-10-07T19:22:09","date_gmt":"2026-10-07T19:22:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/623603\/"},"modified":"2026-10-07T19:22:09","modified_gmt":"2026-10-07T19:22:09","slug":"kiwi-footwear-company-minx-awaits-six-figure-tvsn-payment-as-network-holds-closing-down-sale","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/623603\/","title":{"rendered":"Kiwi footwear company Minx awaits six-figure TVSN payment as network holds closing-down sale"},"content":{"rendered":"
\u201cIt\u2019s a significant amount for an independent business. We\u2019re seeking some really strong clarity around how that\u2019s to be resolved.\u201d<\/p>\n
Reed said stock sold during her most recent appearances was supplied on standard trade terms and Minx was still awaiting a six-figure payment.<\/p>\n
She said TVSN had even confirmed an order for next winter.<\/p>\n
\u201cAll the indications were that they were on the up and up and doing well.\u201d<\/p>\n
But on Tuesday, Reed received an email from TVSN owner Direct Group explaining the decision to hold the sale, but providing no information about the payment Minx says remains outstanding.<\/p>\n
Direct Group said it was commencing a closing down sale because of \u201cdifficult trading conditions\u201d and \u201climited access\u201d to required funding.<\/p>\n
\u201cUnfortunately, we have not yet secured a transaction that would allow the business to continue in its current form, which has led us to hold a Closing Down Sale,\u201d it read.<\/p>\n
\u201cThe Closing Down Sale is intended to drive sales to allow us to reduce outstanding liabilities and support the business.<\/p>\n
\u201cIf a buyer or investor is successfully secured, the Closing Down Sale will cease. We remain hopeful we can achieve an outcome that preserves the business, our people and, importantly, our long-standing relationships with our suppliers.\u201d<\/p>\n
The Herald has contacted Direct Group for comment.<\/p>\n
Minx had received an order from TVSN for next winter before the shopping network announced its closing down sale.<\/p>\n
Reed said she had supplied TVSN for two seasons.<\/p>\n
\u201cIt is a challenge. We would rather have that for our cashflow and funding next season\u2019s collections but next week we\u2019ve got more product coming in, we\u2019ve got orders on the books and production on the go. <\/p>\n
\u201cWe will continue.\u201d<\/p>\n
The Sydney Morning Herald reported another supplier, women\u2019s fashion label Philosophy Australia, was owed tens of thousands in unpaid invoices.<\/p>\n
Owner Alison Lennard told the Sydney Morning Herald that TVSN had become slower at paying outstanding invoices over the past few months.<\/p>\n
Reed said her concern extended to the TVSN staff, presenters and production teams who helped introduce Minx to viewers across Australia and New Zealand.<\/p>\n
\u201cI feel terribly sad for the people who have worked tirelessly to make TVSN what it is. They created a special way for customers to discover products, hear directly from designers and feel part of a community,\u201d she said.<\/p>\n
\u201cWe still hope the right investor or buyer will come forward and preserve the business and its people.<\/p>\n
\u201cAlongside that hope, suppliers need answers. Behind every outstanding invoice is another business, another team and years of work.\u201d<\/p>\n