Ten Whitcoulls airport stores sold

Ten Whitcoulls stores at New Zealand airports have been sold by the administrator of their Australian owner.

The buyer is another Australian owner - LS Travel Retail Pacific, a travel retail specialist. The price was not disclosed.

The administrators of REDgroup Retail, which owns Whitcoulls, Borders New Zealand and Bennetts stores, have been conducting a sale process and they have shut some stores in Australia.

The Whitcoulls stores sold today are located at Auckland, Wellington, Christchurch and Rotorua airports.

The stores will be rebadged under the Relay brand over coming weeks.

The REDgroup business in New Zealand has 63 Whitcoulls, five Borders and nine Bennetts stores. Final bids for these stores are due this month.

NZPA

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