4 Jun 2014

Postie Plus conditionally sold

4:56 pm on 4 June 2014

Clothing retailer Postie Plus has been conditionally sold to an international retail group.

The company, which has 82 stores and employs 650 people in New Zealand, was placed into voluntary administration on Tuesday due to ongoing financial problems.

Administrator PwC says the would-be buyer, which they haven't named, will be conducting due diligence on the company over the next three weeks, and the sale could be completed within the next four weeks.

PwC says the company is being sold as a going concern and will continue trading through the sale process.