We are now under new ownership May 23rd, 2020 We are now under new ownership Smiths City has just started a new chapter in its 100-year history of supporting heartland New Zealand. Today we, at Polar Capital, have become the new owners of 23 Smith City stores across New Zealand as well as Smiths City Finance. As passionate New Zealanders, we are very much… read more
Smiths City enters conditional agreement for sale of its retail and finance operations May 18th, 2020 Smiths City (NZX.SCY) today announces it has negotiated a conditional agreement to sell Smiths City businesses in a transaction that values the assets at around $60 million. While the sale gives the Smiths City business a strong foundation on which to build, Directors believe Smiths City’s ordinary shares will retain no value following the sale…. read more
NZX AND MEDIA RELEASE 06.05.20 – SMITHS CITY RESTRUCTURING PROCESS TO BEGIN May 6th, 2020 Smiths City (NZX.SCY) today announces it is starting consultation with its employees and negotiations with its landlords to restructure the company. The Covid-19 pandemic and the temporary closure of our store network since late March continues to have a significant impact on our business. Smiths City online has continued to trade, and while we are… read more
