Shareholders in Postie Plus have approved the sale of its Arbuckle manchester and homewares chain to the founder of Kathmandu, Jan Cameron, for $4 million.
The retailer told shareholders in Christchurch that there would be a one-off cost of between $2.4 - $2.6 million from the writedown of goodwill and stock.
Ms Cameron is a major shareholder in Postie Plus.
The company will concentrate on expanding its Postie Plus and Baby City chains.
