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HomeNEWSNosh supermarket up for re-sale

Nosh supermarket up for re-sale

The never-ending saga of Nosh has a new chapter as the gourmet supermarket goes up for sale again for the second time this year.

Potential buyers for the struggling chain have a week from the 21 of this month to make an offer for the five stores which operate in Auckland.

Veritas Investments sold its Nosh food supermarkets to Gosh Holding for $3.98 million, with the transaction finalising this February.

Gosh shareholder, Andrew Phillips, was confident that the chain could be turn around to gain profit, even though stores have been closed and staff haven’t received payment since June. 

Now Gosh are looking for new buyers to grow and rebrand the internal restructure of the markets.

Nosh Group only now operates five Auckland stores: Glen Innes, Green Lane, Ponsonby, Pakuranga and Matakana.

Waterstone Insolvency has been appointed as receivers for Nosh Group and its partner company, Mt Eden Food.

In what has been a rocky year for Nosh, the chain also made headlines after former owner Veritas tried to sue the brand after selling it.

Veritas said Gosh Holdings, which has since renamed itself Nosh Group, consistently failed to meet the payment schedule and therefore breached the sale and purchase agreement. 

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