LWR in SFO probe

Failed clothing maker Lane Walker Rudkin is to be the subject of a Serious Fraud Office investigation, following a referral from the company's receivers, BDO Spicers.

Neither the receiver nor the SFO are being forthcoming on the reasons for the probe, which follows the once iconic sportswear company going into receivership in late April, owing creditors $121 million, including $111.4 million to Westpac.

LWR is owned by prominent Christchurch businessman Ken Anderson, whose marriage collapsed shortly before the receivership.  Comments by union negotiators at the time of the receivership cited instances of deteriorating decision-making at the company in the two years prior to its failure.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer
SKC - Updated FY25 Full Year Earnings Guidance