Retailer of business shirts Nicholas Jermyn has been placed into liquidation, with administrators saying workplaces becoming less formal and increased competition from online retailers led to its demise.

The 10-year-old New Zealand retailer was in the hands of voluntary administrators since May when it shut two stores.

At a meeting of creditors yesterday PwC, the administrators, recommended that the company be placed into liquidation.

The company had nine retail stores and an online store and employed appro…

Read the full article at: http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11709611