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Kimberlys will be gone by Sunday

  • News
  • December 11, 2017
  • Sarah Dunn
Kimberlys will be gone by Sunday

Womenswear company Kimberlys was founded in 1983, but it won’t see out the end of 2017 before folding. It went into receivership in October and as a buyer has failed to come forward, all remaining Kimberlys stores will close on December 17.

At the time of receivership, Kimberlys had stores in Auckland, Wellington, Christchurch, Nelson and Dunedin, and sells a range of international labels such as Desigual plus its in-house brands: Episode, Marilyn Seyb, Marilyn Seyb Jeune and Marilyn Seyb Glamour.

Colin Gower and Andrew Grace of BDO Christchurch were appointed as receivers and kept it continuing to trade throughout October, November and early December. It has now entered a “managed wind-down” phase in which it is selling off stock at sale prices.

Online sales have ceased, but stores in Auckland’s Milford and Remuera; Dunedin; Wellington; Christchurch’s Merivale Mall and the outlet store remain open until Sunday.

Gower and Grace say that despite “significant interest”, they were unable to achieve a sale of Kimberlys as a going concern. They valued the business’s assets at $2.3 million, with creditors owed around $3.2 million.

Preferential creditors make up $214,059 of this debt – including $63,391 to employees and $127,583 to Inland Revenue – and have all been paid in full. Gower and Grace are unable to determine if the $1.3 million due to unsecured creditors will be paid until after the process of realising Kimberlys’ assets is complete.

Kimberlys’ directors attribute the company’s receivership to changes in customers’ discretionary spending, coupled with competitive overseas markets and online options having a detrimental effect on the company’s financial position.

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Bonnie Brown’s Blooming ‘Brella: Winner of the Blunt + Idealog + Generator umbrella experiment

  • News
  • May 25, 2018
  • Elly Strang
Bonnie Brown’s Blooming ‘Brella: Winner of the Blunt + Idealog + Generator umbrella experiment

The grand winner of the Blunt + Idealog + Generator umbrella experiment has been announced – congratulations to Bonnie Brown of Studio Bon, who will see her design turned into a limited edition Blunt umbrella. Watch this space for details on how to buy one in the near future, or get your pre-order in now. In the meantime, we chat with Brown and have a closer look at her winning design.

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Save money or save values?

  • Opinion
  • May 25, 2018
  • Courtney Devereux
Save money or save values?

As the next generation become top spenders, it is up to them to communicate their values to the market. Below you’ll find examples of local, ethical, mindful and sustainable retailers to support, well also upgrading your wardrobe.

Read more
 
 

#Trending: Shop to showroom

  • News
  • May 25, 2018
  • Sarah Pollok
#Trending: Shop to showroom

Stores are starting to display only sample products are on the rise. Sarah Pollok looks into the new showroom experience hitting our retailers.

Read more
 
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Debunking diversity myths surrounding hiring practises

  • Opinion
  • May 24, 2018
  • Rose Lu
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Flick Electric software engineer Rose Lu has often been the sole woman or sole non-white person in the room in her career, and recently assisted with Flick's hiring process for new engineers. Here, she shares some key learnings on how to hire for diversity – and how to get around the obstacles that often pop up.

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