Strategic Finance receivers will make one final payment to investors, lifting the total payout to 21 per cent, before calling time on the seven-year saga. To date, distributions in the receivership have been 20c in the dollar, or $73.5 million, for the 10,000 secured debenture investors who had invested $367.8m in the failed company. Receivers John Fisk and David Bridgman of PwC said their revised estimate for the final distribution was up from a previous range of 20-to-20.7 per cent. After that, the receivership would be brought to an end. they can easily get product from Topshop and Topman.”
The Iconic’s partnership with Topshop is an online exclusive with British group Arcadia and not the current franchisees of the bricksand-mortar stores in Australia.
“Topshop is very much known for being fast with the trends and really picking up styles from the runway and translating them into the Topshop Topman way, so for us it’s a really good addition to our trend assortment,” Osthus said.
“We know that Topshop and Topman is a very wanted brand in Australia and New Zealand and customers are searching for it.”
The deal is Topshop’s first online presence in New Zealand with physical distribution from Australia.
“Topshop and Topman are two brands we know Kiwis love — we want to keep bringing our customers the biggest and best brands in the world, which is why we’re thrilled to be welcoming Topshop and Topman to The Iconic family,” said Patrick Schmidt, chief executive of The Iconic.
In September, Top Retail, the company that operates the licence for the British brand in New Zealand, said its Auckland and Wellington stores had been placed in receivership.
The Iconic’s Mareile Osthus says Topshop is known for being alert to trends.