H.C. PALMER CONSOL
Receivership Move
(N.Z. Press Assn.—Copyright)
SYDNEY Oct. 26.
Australia’s largest electrical appliance retailers. H. G. Palmer (Consolidated). Ltd., yesterday went into receivership. H. G. Palmer has borrowed about £2sm to £3om from the public. The owner of the company, the M.L.C., Ltd. (the Mutual Life and Citizens’ Assurance Company, Ltd.), revealed that it had asked for the receivership.
M.L.C. Dividend
At the same time. M.L.C., Ltd., reported that it would maintain its own dividend to shareholders, and that it would write off its H. G. Palmer investments completely this year. The company' acquired H. G. Palmer in 1963. The investments of the group in the company amount to £B.6m. The receiver is Mr C. R. H. Jackson, of Hungerford, Spooner and Kirkhope, Sydney accountants.
Mr Jackson intends to keep the business operating.
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Bibliographic details
Press, Volume CIV, Issue 30892, 27 October 1965, Page 21
Word Count
135H.C. PALMER CONSOL Press, Volume CIV, Issue 30892, 27 October 1965, Page 21
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