Nido no more: Homeware store will close doors – 60 jobs to go

Nido, New Zealand’s biggest homeware store, has announced it will shut after attempts to find buyers failed.

A statement from receivers of trading business Magsons Hardware released a statement saying 60 jobs would be lost.

McGrathNicoll said trading had continued at the Henderson big-box outlet while parties explored a possible sale of the business.

“Unfortunately, despite initial positive interest from a number of parties, a sale of Nido as a going concern is unable to be achieved. As a result, the receivers will now commence a closing-down sale of Nido and the stock, with the store expected to close in as little as three weeks,” McGrathNicol said.

Kare Johnstone, a receiver, said: “We are incredibly grateful for the support of staff during this difficult time, with all of the team working hard to preserve the business while options for the business were explored. Unfortunately, as a sale of Nido as a going concern was unable to be achieved, we have commenced a closing down sale of stock and, as a result, redundancies will need to be made with the doors closing.

“However, customers will benefit from the closing-down phase, which will include significant discounts in-store, with new stock being put on the shelves. Customers should get in quickly, as stock is limited,” she said.

“The intention is to trade the Nido store for approximately a further two to three weeks and sell the remaining stock at significant discounts. The closing-down sale has commenced with immediate effect and separate advertising with further details for customers will follow shortly and be provided throughout the closing-down period. There are approximately 60 staff affected,” the statement said.