Is this the end for Nosh?

Sydney-based investor, Andrew Guy Phillips, bought the unprofitable chain via the company Gosh Holding for $4m saying he had the backing of a number of wealthy Kiwis.

Only one of these backers was revealed through changes to the Companies Office. He was Jonathan Denize, an Auckland man who has been declared bankrupt twice.

Denize did not respond to attempts to contact him this week.

"People in the industry shook their heads when Nosh was sold," said retail analyst Chris Wilkinson. "We all tried to work out who these buyers were."

Phillips was positive at the beginning of his purchase, and agreed to talk to the Herald about exciting plans for the franchise. This never came about and since the stores shut, he has not responded to calls or emails.

A number of employees and creditors of the business said this week that they were waiting for payment from Nosh.