Liquidators appointed to Gould Bros Limited

MEDIA RELEASE

Liquidators appointed to Gould Bros Limited

Wednesday 18th of July 2012

Andrew John Hawkes and Shaun Neil Adams from KPMG Restructuring and Insolvency were appointed Joint Liquidators of Gould Bros Limited on Tuesday the 17th of July 2012 at 4.30pm, by the shareholders.

The Liquidators have taken possession and control of the assets and undertakings of the Company, however as no immediate cash is available to fund the continued trading; the business will remain closed while the Liquidators run a process to sell the business and its assets.

With the knowledge of a number of expressions of interest, the liquidators will be preparing and releasing an information memorandum for the purpose of achieving a sale of the business and assets. Interested parties should contact Andrew Hawkes of KPMG to register their interest in the business at ahawkes@kpmg.co.nz.

Gould Bros Limited is based in Lower Hutt, Wellington, and employs around 60 people. The company sold processed meats and convenience foods. The majority of staff have now been dismissed from employment. The Liquidators are in contact with employees and union representatives to quantify any outstanding claims for wages and redundancy, and will be liaising with other stakeholders to resolve any outstanding issues arising from the closure of the business.

Andrew Hawkes, partner at KPMG, commented that, “It is a sad day when such an iconic Wellington business fails. The company has serviced many customers and employed many long serving local staff during its 60 year history”.

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