A major childrens retailer has gone bust after a bank appointed receivers to recoup their money.
Last Tuesday, New Zealand business Bobux, which sells shoes for young children, collapsed.
Conor McElhinney and Andrew Grenfell of insolvency firm McGrathNicol have been appointed as receivers and managers of Bobux and related its companies.
They are acting on behalf of the Bank of New Zealand.
The brand, which was popular with young parents, had headquarters in New Zealand but staff in Australia.
Bobux widely sold to Australian customers, with a dedicated warehouse in the country and a large online presence, making Australia one of its primary markets.
In New Zealand, 25 employees will be impacted, as will eight staff members in Indonesia, a…
Read the full article at: https://www.news.com.au/finance/business/retail/kids-shoe-company-bobux-collapses-into-receivership-australian-staff-customers-affected/news-story/5b133d8bae2dd2bebe83c2bed5703bf1