GROCERY BUSINESS.

Feilding Star, Volume 5, Issue 1131, 20 June 1927, Page 7

GROCERY BUSINESS.

aOl NO .1N TO I. IQIII 1 1) ATI ON. (Per Press Association! Auckland June. 18. II the resolution passed at- the annual meeting is confirmed at the special meeting of shareholders on July 4- the old- established Queen street grocery business of Smeeton’s, Ltd., will go into voluntary liquidation.

Tim chairman of directors, Air AY. AI. Commons, stated yesterday that tile slia reheiders had decided upon liquidation for several reasons. The rental had become prohibitive and the same was true of tile wages fixed by the Arbitration Court for its employees. Aloieover, Lhe business in groceries had been leaving Queen street lor some Years past and the character of the trade had changed, l he company's capital was intact? but as there was no prospect whatever of earning interest upon it the shareholders had resolved on winding up. Air Commons said that as there was a large stock to he ’cleared the liquidation would take ‘considerable time. r fhe lease had five years to run, and efforts would be made- to dispose of it. The business was founded over 20 years ago by Air H. M. Smeeton, who disposed of his interest some years ago.