Babycity was a major contributor to the group’s 2012-year loss. The Babycity expansion was short-lived as the baby care chain continued to perform poorly and was sold in May 2012. The following year Postie Plus expanded again by increasing the number of Postie Plus stores from 75 to 79 and Babycity from 19 to 24. Postie Plus reported a loss of $10.85 million for the July 2008 year, $5.1 million of which was attributable to Arbuckles’ trading losses and realisation costs. In 2007 Jan Cameron, the founder of Kathmandu, started accumulating Postie Plus shares and the following year shareholders approved the sale of Arbuckles to Cameron. This started the slow but steady selldown of Postie Plus shares by Dellaca family members. The Dellaca-controlled company, which owned 50 per cent of Postie Plus, was liquidated and shares in the listed company distributed to Dellaca family members. The listed company’s first rationalisation occurred in the 2005 year when most of the large Rendells stores were converted to Postie Plus outlets and the smaller Rendells outlets were closed. The company’s share price was trading at around $1 12 months after listing as net earnings for the year ended Jwere below the prospectus forecast, after taking into account restructuring costs. Unfortunately that was its all-time high. Postie Plus attracted no significant institutional shareholders but its share price finished its first trading day at $1.25 on relatively high turnover of 2.46 million shares. Richard Dellaca and John Dellaca, grandsons of the original Postie Plus founder Thomas Dellaca, were executive directors. There were 40 million shares on offer after the issue, with a Dellaca family-controlled company holding 20 million shares or 50 per cent of the newly-listed company. The IPO involved the sale of 20 million shares – 15 million new shares and five million existing shares – at $1 each. Arbuckles operated a national manchester chain and Babycity focused on baby care.Ĭhairman Peter van Rij admitted that the Postie Plus chain was “a relatively mature business with limited opportunity for geographic expansion” but the directors believed that growth could be achieved by “acquiring other retail chains that will benefit from the application of the Postie Plus business model”. The prospectus described Postie Plus as a national casual family clothing chain and Rendells as an Auckland-only specialty department store chain. It was acquired by Postie Plus for $9.5 million from proceeds raised from the IPO. Arbuckles, established by John and Vickie Arbuckle in the 1980s, had 20 stores.Rendells, also with seven outlets, had been owned and operated by the Rendells since 1882.Babycity, with seven stores, which was established by the Nuttall family in 1986.Postie Plus, which had 59 stores, was established on the West Coast in 1909 and had been owned and operated by the Dellaca family since then.We treat our staff with respect, integrity, and enthusiasm and expect the same back from you. We are a fast-paced fashion retailer where no two days are the same. 33.5 Hours per week (Fixed term for 12 months).We are searching for a Part Time Sales Assistant who is passionate about customer service and retail to work in our Sylvia Park branch.
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