New Zealand clothing firm Postie Plus has been sold to a South African company. All but 30 of the company's 560 staff will keep their jobs.
The sale involves the transfer of the Postie Plus Auckland head office and 64 stores throughout New Zealand to Roan Limited, a subsidiary of Pepkor Limited.
Administrators David Bridgman and Colin McCloy say they are very pleased to have been able to complete the sale of the Postie Plus business as a going concern within six weeks of their appointment as administrators.
They say many of the Postie Plus suppliers will be able to continue trading with it under its new ownership.
All of Postie Plus Auckland-based head office staff and the majority of its retail staff have been offered employment with the new owner.