The company behind Shanton clothing outlets in Wellington, Porirua and Lower Hutt has gone into receivership.
Shanton Retail has 39 stores across the country. Director Murray Carter could not be reached for comment.
The Papakura-based company suffered a loss of $353, 496 for the year ended June 2011, compared with a loss of $254,776 the year before.
It had total related party borrowing of $3.4 million in 2011, compared to $3.6 million in 2010.
Shanton Apparel is majority owned by Australia-based Atamine. Carter Trading in Auckland, and Manukau-based Taca also hold stakes in the firm.
Shanton Retail was formed in 2004.
Anthony Harris has been appointed as the company's receiver, according to Company Office records. His six-monthly report is due on June 13 this year.
- © Fairfax NZ News
Is a living wage the right move for Wellington City Council?Related story: Living wage voted in despite criticism