Business

Smiths City, a long-standing name in New Zealand’s retail sector, has gone into voluntary administration following mounting financial challenges. All nine of the company’s stores, along with its online platform, were shut on Tuesday morning while administrators from BDO Christchurch – Colin Gower and Diana Matchett – begin reviewing the

* Fonterra to sell Consumer businesses to Lactalis for $3.845 billion, pending shareholder approval * Co-op plans $2.00 per share tax free return to farmers after sale completion * Sale expected to complete in 2026, with long-term supply deal in place Fonterra has confirmed it will sell its Consumer and associated

This week’s Word About Town kicks off with some tasty news — Popeyes have confirmed they’ll be opening on September 8 at 10am, bringing their world-famous fried chicken to Invercargill. It will be the first Popeyes in the South Island, as reported by whatsoninvers.nz back in April, with

The a2 Milk Company has finalised the $282 million purchase of Yashili’s infant formula manufacturing plant in Pōkeno and sold its majority stake in Mataura Valley Milk (MVM) to Open Country Dairy. The Pōkeno facility, formerly owned by China’s Mengniu Dairy, will be enhanced through a $100 million

SBS Bank has announced a drop in its one-year fixed home loan rate for first-home buyers, reducing it from 4.29 percent per annum to 3.99 percent per annum. This new special rate is the first to fall below four percent since May 2022 and will be available for

Full credit to Geoff Thomson for bringing 4.5 star hotel quality to his home town, described by his new Distinction Invercargill Hotel manager as impressive in every way. “He has not cut any corners in this property. He has gone all out and that will be the difference, I

Electronics retailer JB Hi-Fi has lifted New Zealand sales by 20.8% to NZD 396 million in the 2024 financial year, narrowing its loss before tax to NZD 0.2 million. JB Hi-Fi now operates 23 stores nationwide, including the JB Hi-Fi inside Invercargill Central, which celebrated its first birthday

* Dawn Meats plans to acquire 65 percent of Alliance Group shares for NZ$250 million. * Proposed deal aims to strengthen finances, fund growth and deliver returns to farmer shareholders. * Partnership would create strong global market presence combining beef and lamb expertise. Alliance Group has announced that shareholders will soon vote