@Hardy’s Limited and Healthy Living Trading Company have gone into receivership as of July 3. @Hardy’s trades the company-owned retail stores branded as 'Hardy’s', while Healthy Living is the franchisor for the franchises. Five of Hardy's 12 retail stores are affected.
According to Insolvency Watch website, the retailer's previous status was 'registered' from October 1 2014, until changing to 'in receivership' on the third of this month. The receivers appointed are Andrew Grenfell and Kare Johnstone of McGrathNicol.
@Hardy's Limited employs around 20 people and currently operates five retail outlets. Johnstone has confirmed it will continue to trade while she and Grenfell seek a buyer for the business.
"Given the early stage of the receivership and sale process, we cannot provide any further details at this stage," she says. "Note there are six franchised stores that are not affected by the receivership and continue to trade as normal."
Hardy’s is a New Zealand limited company which sells supplements, weight loss products and beauty products online and out of 12 bricks and mortar stores located throughout New Zealand. The online website sells the same products but is operated through a separate related party that is not in receivership.
Hardy's appears to still be hiring staff - when The Register checked its website on July 6, Hardy's was still advertising positions at Hardy's Pakuranga; Hardy's Sylvia Park; Hardy's St Lukes and Hardy's Northwest.
Although in receivership, the store is not in liquidation, meaning the retailer will operate as normal for the time being both online and in its physical stores.
The receivers' first report is due 10 September. This story will be updated as more information emerges.