8 Dec 2016

Shanton Fashions back in receivership

6:38 pm on 8 December 2016

Women's clothing retailer Shanton Fashions is in receivership again - just 16 months after a new buyer took possession of the troubled chain.

The fashion chain's Pukekohe store.

The fashion chain's Pukekohe store. Photo: Facebook

It was initially put into voluntary liquidation in January 2015, and sold the same year to Revolucija for an undisclosed sum.

Receivers Andrew Grenfell and Kare Johnstone of McGrathNicol have taken control of the 13 Shanton stores still operating around New Zealand, and were looking for expressions of interest in the business.

The stores will continue to trade while the receivers work with stakeholders, including management and staff, in order to stabilise operations and make an assessment of the company's financial position.

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