Payment outlook for Nosh staff looks grim
Former Nosh employees remain unpaid and the company’s receiver said he’s “not optimistic” they will receive anything.
Upmarket grocery chain Nosh was placed into receivership last month.
Before the receivership, staff were waiting to be paid wages and numerous creditors had ceased supplying the stores.
Receiver Damien Grant said at the time that it would be “very difficult” to get the stores back into trading.
Grant yesterday would only say he was “not optimistic” about staff receiving their wages or holiday pay.
A Nosh in Kerikeri and one at Mt Maunganui trade as independently operated stores and are unaffected by the receivership.
Last month, Nosh closed its Auckland stores ahead of a planned relaunch on June 26.
When the time came, different notices said the relaunch had been delayed until July 8.
The relaunch did not happen on that day either.
No sign of activity — or stock — could be seen through the mostly covered windows.
A number of employees and creditors of Nosh told the Herald last week that they were waiting for payment from the business.
Three staff members, who did not want to be named, said they were waiting to be paid wages and holiday pay.
Nosh was bought by NZX-listed food investor Veritas in September 2014.
Veritas took on $5 million of funding with ANZ to facilitate the acquisition from then-owner Paul Lucas, who had taken over the business from founders Clinton Beuvink and Chris Moore.
Veritas struggled to make the grocery chain profitable and was forced to sell or close the business by ANZ late last year.
Sydney-based investor Andrew Guy Phillips bought the unprofitable chain through Gosh Holding for $4m, saying he had the backing of a number of wealthy Kiwis.