The receivers of embattled retailer Pumpkin Patch have announced more of its New Zealand and Australian stores will be shut down. A further 68 stores will be closed, including two earthquake damaged stores in the South Island that won't be reopening.
As part of our series that explores the retail industry's greatest moves of the past year, we had a chat with McGrathNicol partners William Black and Conor McElhinney on the year that was in restructures, the dangers of retail and predictions for the future. McGrathNicol has conducted many recent retail restructurings, including Wild Pair, Shanton, Dick Smith, Pack & Pedal and Identity.
If there’s anything to take away from the last year in the retail sector, it’s that it’s a tough market out there. There has been a string of high-profile foldings within the sector, including Wild Pair and Dick Smith. The latest to go under is embattled childrenswear retailer Pumpkin Patch. We chat to retail analyst Chris Wilkinson to dissect what lessons can be learnt from these high-profile closures.
Retail had another strong year of growth in 2016, but it wasn't all sunshine and daisies. In this column, McGrathNicol partner Conor McElhinney breaks down the winners and losers of the 2016 year in retail - and has a word of caution for those operating in the apparel industry. McGrathNicol recently acted as administrators of Dick Smith and receivers of Wild Pair, Temt, Valleygirl and Identity.
The end of 2015 is in sight. William Black and Conor McElhinney, partners at receivers firm McGrathNicol, look back on the year that was and find positive trends in food and beverage, tourism/accommodation, hardware and homewares sectors, plus issue warnings for apparel operators.
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As we near the end of another year, advisory firm McGrathNicol has looked at the 2015 retail financial year and reviewed the findings. Retail experienced uneven growth across categories, with products and services related to tourism and residential building performing the strongest.