Former staff to be paid out under Smiths City deal

More than 100 former Smiths City staff will be paid in full for unpaid meetings they were required to attend, according to the retail chain’s receivers. Smiths City went into receivership in May last year before the brand was bought by investor Colin Neal, who set up Smiths City (2020). According to the creditor compromise proposal, issued in May by receiver Colin Gower from BDO and Alastair Kerr, on behalf of the company’s directors, the company still owed about $60,000 to former employees for unpaid meetings. On Friday, Gower said the proposal had been approved and a group of about 110 people identified as being owed money for unpaid meetings would be paid in full. Other creditors were expected to get final payments at the upper end of the 40 cents to 60c on the dollar range set out in the proposal, he said.