Expansion by Woolworths

Press, Volume CXIII, Issue 33279, 17 July 1973, Page 10

Expansion by Woolworths

(N.Z. Press Association) WELLINGTON, July 16. Woolworths (N.Z.), Ltd. announced today that the company had taken over 12 Self Help supermarkets in Auckland, Rotorua, Hamilton and Te Awamutu. In a joint statement, the ■ managing director of Self Help Co-op, Ltd, (Mr J. Sutherland) and the general 'manager and director of Woolworths, (Mr R. D. M. Liddle) said the take-over had been brought about by a desire to rationalise operations. “The change-over will be effective from August 1, and all staff employed in the 12 stores and in the Auckland Self Help warehouse, will continue in the employ of Woolworths,” they said. “The 12 stores involved will provide Woolworths with additional supermarket outlets to meet the challenge created by the intense competition in the Auckland area.”

Radio Avon issue The directors of Radio Avon, Ltd, the Christchurch broadcasting company, report that the public issue of 400,000 shares of 50c each, opened at 10 a.m. on Monday and closed immediately, oversubscribed. Radio Avon will go on the air on August 4. The directors forecast in the prospectus an 8 per cent dividend for the 1975 year, with a 10 per cent payment in the next year. The issue was underwritten by Hamilton, Hindin, Greene and Company, in association with Associated Underwriters i (N.Z.) Ltd.