Appointment of receivers follows an agreement to sell stores and Smiths City Finance to Polar Capital,
- Colin Gower and Diana Matchett of BDO Christchurch and Andrew Bethell of BDO Auckland appointed as the joint receivers and managers
Smiths City Agrees to Sell Retail, Finance Operations
- The board’s duty became to preserve as much value as possible for creditors
- The appointment of Receivers today was necessary to fulfill that duty
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