Heatway up for sale
The heating interests of Heatway Industries (in receivership) will be offered for sale by tender, according to the receiver, Mr G. S. Rea. Mr Rea, of the accountancy firm Gilfillan Morris and Company said that Heatway had attracted tremendous interest from people wanting to buy the company. The successful buyer would be servicing Heatway warranties, he said. Mr Rea, who was accepting responsibility for the warranties as receiver, said the service of warranties would be part of the negotiations to fix a price for the company. He said that the company was stock-taking and trying to satisfy existing orders. When that was completed, within two weeks, Heatway would be ready for sale. Mr Rea said he hoped the sale would be settled this month. “The Heatway name is well known and highly regarded because of extensive advertising,” he said. “Something had to be made out of that.” Mr Rea said there would be a shortfall in money for creditors. Heatway’s debt totalled about $1.5 million.
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Press, 7 May 1983, Page 25
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169Heatway up for sale Press, 7 May 1983, Page 25
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