Clothing chain in receivership

00:49, Oct 09 2012

National clothing company Shanton Retail, a subsidiary of Shanton Apparel, has gone into receivership.

The company has 39 stores across the country. Director Murray Carter could not be reached for comment.

Papakura-based Shanton Retail suffered a loss of $353,496 for the year ended June 2011, down from 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.

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