23 May 2012

Babycity sale settled

1:19 pm on 23 May 2012

Postie Plus says the sale of its Babycity chain was settled on Tuesday.

The business has been sold to a firm run by former LV Martin chief executive Trevor Douthett.

The deal involves 11 of the 18 Babycity stores, stock and forward orders of $5.6 million and some liabilities, for which Postie Plus will receive an estimated $4 million.