Pump­kin Patch sale bid fails

Auckland City Harbour News - - SITUATIONS VACANT - TAO LIN

Pump­kin Patch re­ceivers have found no buyer, and say there is no choice but to sell all the stock and wind down the busi­ness.

All stores will re­main open un­til at least the end of De­cem­ber, but an im­me­di­ate head of­fice re­struc­ture would mean 63 jobs lost this week, said re­ceiver Bren­don Gib­son from Kor­daMen­tha.

From this week­end, all stock will go on sale. Vouch­ers will be honoured, but only while the cur­rent stock is be­ing sold, he said.

’’Our fo­cus since Pump­kin Patch en­tered re­ceiver­ship in Oc­to­ber was to sell the busi­ness as a go­ing con­cern. Un­for­tu­nately, while the brand is at­trac­tive, the busi­ness it­self ul­ti­mately drew no in­ter­est at the con­clu­sion of the sale process.

‘‘We now move to the next phase of re­ceiver­ship which is to sell off all stock and be­gin to wind down the busi­ness. This de­ci­sion has not been made lightly and we ac­knowl­edge it will come as a blow to staff,’’ Gib­son said.

‘‘Re­gret­tably, we have had to ad­vise a num­ber of staff at head of­fice that their jobs will be go­ing. They have been given ac­cess to EAP sup­port ser­vices and will re­ceive their hol­i­day pay and out­stand­ing wages.

The liq­ui­da­tion process would prob­a­bly take un­til the end of Fe­bru­ary.

The re­ceivers had re­ceived in­ter­est for the Pump­kin Patch brand.

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