By James Wells
AUCKLAND, NEW ZEALAND: Fisher & Paykel chairman Gary Paykel today said that he expects no material loss as a result of Retravision NSW being placed into administration and receivership.
In Fisher & Paykel’s half yearly statement, Paykel devoted a section of the report to the Retravision NSW situation.
“Retravision (NSW) Limited is a customer of the Appliances Group in Australia,” Paykel said in the report.
“On 24 October 2006, receivers and managers were appointed over the assets and undertaking of Retravision (NSW) Limited. The Directors are presently of the view that no material loss will arise due to this.”
Current.com.au obtained a document today that stated that Retravision NSW can now source stock from Retravision Victoria/Tasmania and Queensland offices, suggesting that Retravision NSW does not wield enough buying power to stock its shelves.