-
Source: NZPA / R Tucker
Receivers have been appointed by the bankers of Canterbury based firm Lane Walker Rudkin
Lane Walker Rudkin has nearly 500 staff at its clothing factory
in Christchurch and others throughout New Zealand and
Australia.
Receivers say it will be a few weeks before it is clear if the
company, which was founded in 1904, and hundreds of jobs can be
saved.
Westpac has appointed BDO Spicers partners Brian Mayo-Smith and
Stephen Tubbs as both receivers and managers.
They say the receivership is unavoidable because of rising
debt.
But continued support from staff, suppliers and customers will be vital to maximise the chances of recovery for the business.
The National Distribution Union is upset about the potential loss of so many jobs and believes poor management has led to the situation.
"Hundreds of jobs are at stake and we are sure that poor management is at the heart of the problem," says Maxine Gay, Secretary of the Clothing and Textiles Sector of the National Distribution Union.
"Westpac's receivers need to keep trading, work with the workers and the union and seek the help of industry organisations in this salvage operation."
