Car dealers broke

Press, 26 July 1986, Page 28

Car dealers broke

PA Gore The farming downturn has been blamed for two Gore car dealers being put into receivership in less than a month. The Mazda agent in Gore was put into receivership yesterday by the Bank .of New Zealand. The 11 staff of Macleans Machinery were given a month’s notice on Thursday night. Latty Ford went into voluntary liquidation at the end of June and the staff of 17 were made redundant. The business was put into receivership shortly after by Westpac.

One of the two men involved in winding up both companies, -Mr Ray Ashley, said that there was not the volume of business. Fewer cars and machinery were being sold. All car and machinery sales businesses were particularly hard hit when fanners stopped spending. There are fears th»t more employees in the motor trade may lose their jobs if a third dealer closes its Gore branch. Beck Motors Honda is reviewing the situation, but will neither confirm nor deny that it may close.

N.Z. FUTURES MARKET WEEK ENDED July 25, 1986 Trading Traded prices Total Open months This week To date this cont's JUS High Low Last High Low week Aug ’86 1.8860 1.8520 1.8860 1.92151.8440 247 264 Sep ’86 1.9400 1.9400 1.9400 2.18901.8395 2 5 Oct ’86 Nov ’86 Dec ’86 2.08801.9316 1 Mar ’87 1.90001.9000 Totals 249 270 PCP Aug ’86 8345 8312 8320 8540 8270 272 549 Sep ’86 8345 8300 8315 8520 7850 160 536 Oct '86 8330 8325 8330 8330 8325 10 10 Dec ’86 8375 8340 8375 8545 8000 76 514 Mar ’87 8310 8310 8310 8500 8050 50 390 Jun ’87 8330 8330 8330 8520 8330 50 118 Sep ’87 8500 8371 48 Dec ’87 8565 8375 45 Mar ’88 8500 8375 47 Jun ’88 8450 8410 10 Totals 619 2267 GOVERNMENT STOCK Aug ’86 8349 8322 8326 8424 8320 996 657 Sep ’86 8350 8324 8326 8485 8200 135 175 Oct ’86 8347 8328 8330 8357 8328 23 19 Nov ’86 Dec ’86 8355 8342 8342 8490 8342 18 51 Mar ’87 8350 8350 8350 8350 8350 2 Totals 1174 902 WOOL Aug ’86 530 513 527 567 473 22 98 Oct ’86 522 518 522 566 474 22 225 Dec ’86 526 520 526 567 475 19 241 Jan ’87 526 519 526 568 474 26 278 Meh ’87 529 524 528 555 480 24 427 May ’87 533 527 532 562 486 46 355 Aug ’87 545 539 542 560 532 22 256 Oct ’87 545 541 542 560 530 11 201 Dec ’87 545 541 543 555 541 5 65 Jan ’88 548 542 547 548 542 6 41 Totals 203 2187 Tenderable stock: 747 bales. 35F2D quotes — 527 at Wellington on July 24. WHEAT Feb ’87 2100 2100 2100 2290 2000 3 15 Mar ’87 2100 2100 2100 2330 2100 10 30 May ’87 2120 2100 2120 2350 2100 3 20 Totals 16 65