The first receivers' report on the Milton Four Square
Supermarket is due at the end of this week.
PricewaterhouseCoopers receivers Richard McKnight, Dunedin,
and Malcolm Hollis, Christchurch, confirmed by email the
supermarket, on the corner of Shakespeare and Union Sts, had
been in receivership since October 11.
Mr McKnight and Mr Hollis were unable to comment on who the
main creditors were, or how much debt the supermarket was in
before being placed in receivership, saying this information
would be available later in the week.
The receivers also confirmed 11 people were employed at the
supermarket, but could not say what the future held for them
other than they were at present employed by the receivers.
The receivers were in negotiations with several potential
purchasers for the sale of the business, they said.
While they were "committed to our sale negotiations", there
were a number of options available if the business did not
sell.
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