Iconic flooring retailer in liquidation
The 18 staff of Hills Floorings were advised today that liquidators of the company have been appointed.
Iconic carpet and vinyl retailer Hills Floorings has been put into liquidation after more than five decades in business, with the collapse of Mainzeal taking part of the blame.
The 18 staff of Hills Floorings were advised today that insolvency specialists Jeff Meltzer and Mike Lamacraft of Meltzer Mason have been appointed liquidators of the company, which was founded in 1958.
“The shareholders have chosen this route and along with the directors are working closely with us. There are several factors behind this decision," Mr Meltzer says.
"It remains a tough retail market for New Zealand operators, and the collapse of Mainzeal, which owes approximately $250,000 to Hills Floorings, also took a toll.
“The company will be able to meet its terms with its bank, and all outstanding staff wages and holiday allowances will be paid. The stock already bought and paid for by customers is secure and will be received by them.
"All customers will be contacted by the Liquidators to arrange collection of their purchases.”
Hills Floorings began as a family business 53 years ago and the two directors include David Hill, one of the sons of founder Bill Hill. David Hill holds a 49.5% share in the business, as does his brother George Hill.
Their brother William Hill has also previously been a director and shareholder.
The company operates from two Auckland sites, in Rosedale and Otahuhu.
In a statement the directors said, “We appreciate the news will come as a shock to our staff and customers, and we want to reassure them that we will honour our obligations.
"We are very grateful for their loyalty over many decades – this is a company that has grown through repeat business and word-of-mouth, and we regret that we are not able to continue as we have, due to a number of pressures that are outside our control.”
Future staffing requirements are not yet known and will be determined as part of the liquidation process.
Niko Kloeten
Thu, 01 Aug 2013
Thu, 01 Aug 2013
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Iconic flooring retailer in liquidation
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