NZ franchisor and 5 stores placed in receivership
posted on 7th July 2017
New Zealand company Hardy's, which sells health and weight loss supplements, is facing challenges after the franchisor company and five company-owned store were placed in receivership earlier this week. Six franchisee-owned stores are trading as usual. The receivers are now seeking a buyer for the company, which was founded in 1986.
Companies Office records show that Andrew Grenfell and Kare Johnstone were appointed as receivers of Hardy's earlier this week.
Grenfell told the Herald that the five company-run stores affected by the receivership include those in Auckland's Sylvia Park, St Lukes, and Northwest as well as two in Bethlehem and Taupo.
The receivers are planning on running these stores while they look for a buyer for both them and the master franchisor.
Grenfell said he was not in a position to give details on the events leading up to the receivership. He said that the company-run stores and the master franchisor employed around 20 staff.
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