GROCERY BUSINESS
GOING INTO LIQUIDATION
(By Telegraph.)
(Special to "The Evening Put.")
AUCKLAND, This Day. If the resolution passed at the annual meeting is confirmed at the special meeting of shareholders on. 4th July, the old-established Queen street grocery business of Smeeton's, Ltd., will go into voluntary liquidation. The chairman of directors, Mr. W. M. Commons, stated yesterday that the shareholders had decided upon liquidation for several reasons. The rental had become prohibitive and the same was true of the wages fixed by the Arbitration Court for its employees. Moreover, the business in. groceries had been leaving Queen street for. some years past and the character of the trade had changed. The company's capital was intact, but as there was no prospect whatever of earning interest upon, it the shareholders had resolved on winding up. ,
Mr. Commons said that as there was a large stock to be cleared the liquidation would take considerable time. The lease had five years to run, and efforts would be made to dispose of it. The business was founded over 20 years ago by Mr. H. M. Smceton, who disposed of his interest some years ago.
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Bibliographic details
Evening Post, Volume CXIII, Issue 141, 18 June 1927, Page 10
Word Count
191GROCERY BUSINESS Evening Post, Volume CXIII, Issue 141, 18 June 1927, Page 10
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