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Mad Butcher stores closing at the same time 'simply a coincidence'

  • News
  • April 8, 2015
  • Elly Strang
Mad Butcher stores closing at the same time 'simply a coincidence'

Since the start of this year, the Rotorua, Massey, Glenfield and Kapiti Mad Butcher stores have all gone into liquidation.

The stores were owned by franchisees that run their own businesses independently, Veritas said in a statement.

All but the Rotorua store have been taken back into Verita’s ownership.

The food and beverage investor said changes in franchisee ownership aren’t unusual and it’s just a coincidence.

“The closures or changes are all unrelated and are primarily due to the personal circumstances or property lease issues of respective franchisees,” Veritas said.

The Rotorua store’s owner lost his business and home due to health and personal issues.

The store is being refurbished and taken over by a franchisee who has previously operated Mad Butcher stores.

The Massey store, which has faced ongoing lease continuity issues, will now be relocating to a new site. It’s expected to be up and running mid-year.

The Glenfield and Kapiti stores will be resold and will continue operating as normal.

There are 40 Mad Butcher stores nationwide, of which 35 are run by franchisees.

Veritas said that its franchisor business was tracking to target, as reported in the interim report in February.

The interim report stated a 16 percent decline in the company’s first half profits to $1.7 million, due to acquisition costs.

This included buying half of meat patty supplier Kiwi Pacific Foods in December 2013, buying gourmet supermarket chain Nosh in September and buying bar franchise Better Bar Co. in November.

 Veritas overall revenue climbed 89 percent to $27.4 million. The Mad Butcher business’s revenue grew to 14 percent to $16.6 million.

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Eat my Lunch opens its first physical store

  • News
  • July 23, 2019
  • Courtney Devereux
Eat my Lunch opens its first physical store

The popular buy one give one model of Eat My Lunch has officially opened its first retail store in Auckland’s downtown Britomart. The store maintains its charity initiative, supplying a Kiwi kid lunch with every $14 spent.

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InStyle names All Is For All’s Grace Stratton a ‘Badass Woman’

  • News
  • July 18, 2019
  • The Register team
InStyle names All Is For All’s Grace Stratton a ‘Badass Woman’

Grace Stratton, the 20-year-old founder of specialty ecommerce site All Is For All, has been named one of 50 global Badass Women by US glossy magazine InStyle. The list includes international celebrities like Mindy Kaling and businesspeople like Stitch Fix chief executive Katrina Lake.

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Wellbeing in the workplace: Here's how its affecting your staff, and your bottom line

  • Opinion
  • July 18, 2019
  • Elly Strang
Wellbeing in the workplace: Here's how its affecting your staff, and your bottom line

Idealog editor Elly Strang recently spoke at the Magazine Publishers Association conference about the importance of wellbeing in the workplace, and the key takeaways from Wellness Month. She shares why it shouldn't be thought of as a luxury nice-to-have, like yoga classes, as research is showing it impacts on your bottom line, as well as some tips on how to create change in the workplace.

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How HomeAR is incorporating AR into architecture design

  • technology
  • July 18, 2019
  • Courtney Devereux
How HomeAR is incorporating AR into architecture design

Many people struggle to envision plans from simple 2D renders and floor plans, as without a designer's eye, filling in blanks from imagination isn’t the most reliable method when it comes to something as important as building a brand-new home or store. Reactar has launched an augmented reality-based platform, HomeAR, to counteract this, which allows users to see and engage with homes in a virtual way, making the very personal process more reliable.

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Simon West is the new chief executive of Torpedo7

  • Who's Where
  • July 18, 2019
Simon West is the new chief executive of Torpedo7

Simon West, who has 20 years' experience leading companies like Ezibuy, has been appointed the chief executive of The Warehouse Group's outdoor retailer Torpedo7.

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Bay of Plenty D2C Saltysea opens its first store

  • Design
  • July 17, 2019
  • Sarah Dunn
Bay of Plenty D2C Saltysea opens its first store

Stephanie Saxton has been selling cheeky swimsuits and ethical activewear online out of Bay of Plenty's Athenree since 2018. She's now opened Saltysea's first bricks and mortar store, the Salty Collective.

Read more
 
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