19 Feb 2018

Nosh successor The Grocer's Market put into receivership

From Checkpoint, 5:39 pm on 19 February 2018

The grocer that replaced Nosh in Auckland has been put into receivership, owing suppliers and employees hundreds of thousands of dollars.

The Grocer's Market was opened just three months ago by disgraced real estate agent Aaron Drever - who was stripped of his licence in 2016 after racking up nine disciplinary findings - after Mr Drever bought the remnants of the Mt Eden Nosh supermarket after it went into receivership.

C & C Strategic's John Gilbert was appointed receiver of the Old Auckland Grocers Market by an unknown supplier this morning, and the receiver Mr Drever purchased the Nosh store from - Waterstone Insolvency - has been appointed liquidator of TGM Trading, Mr Drever's trading company.

Nosh reborn as Grocer's Market, but under the same premise

Aaron Drever Photo: RNZ / YouTube

"The unsecured creditors are unlikely to be paid, the staff might be paid depending on the level of the debt and how much I can sell the stock for," Damien Grant from Waterstone Insolvency said.

"My client who financed the business will probably suffer a shortfall."

Mr Drever had told Checkpoint on three occasions that he would sell his home to pay suppliers if necessary, but Mr Grant confirmed to Checkpoint today that Mr Drever no longer owns a home. Mr Grant said it had been placed in a trust.

Checkpoint has spoken to more than a dozen suppliers and employees who are owed money, the smallest bill being less than $700 and the largest more than $30,000.

Tauranga produce company Vision Fresh filed a high court claim in December last year, claiming it was owed $25,000 and Logotech, a Tauranga uniform supplier, filed a disputes tribunal claim for $3416.

Mr Grant said the total debts are less than $1 million: "It will be a small to medium insolvency."

"At the moment the store is open and the trading enterprise, the staff and the stock, that sits with me as liquidator. We are trading the business at the moment to give the receiver the chance to sell the business," Mr Grant said.

He said there were parties interested in purchasing The Grocer's Market.

Mr Drever could not be reached for comment.