LWR receiver lays complaint with SFO

Published: 12:20PM Thursday September 17, 2009 Source: ONE News / NZPA

  • Print this article
  • Text size + -

The National Distribution Union says the receiver of troubled clothing manufacturer Lane Walker Rudkin has laid a complaint with the Serious Fraud Office.

The Christchurch company and its seven subsidiaries went into receivership in April, owing $121 million and leaving nearly 200 staff without pay and without a job.

The receivers were unavailable for comment but earlier said that the standard of financial reporting had been inadequate.

National Distribution Union general secretary Robert Reid says his union had long been calling for an investigation into the failure of the iconic company.

"We have had strong feedback from the workers that they are wanting to see the whole of the financial shambles investigated, given the workers were one of the losers in the situation," he says.

The business is owned by Ken Anderson.

Of the $121 million owed, $111.4 million is owed to Westpac.

  • Print this article
  • Text size + -
  • more...

Business News Video

Advertising

How do you want your news?

  • Mobile Devices

    TVNZ is available on mobile phones: Text TVNZ to 8869.

  • News Feeds

    See when TVNZ have added new content. You can get the latest headlines anywhere.

  • Podcasts

    Enjoy TVNZ on the move - a wide range of programmes and highlights are available.