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Kirkcaldie & Stains asked to sell

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Newtown-Fella
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« on: December 16, 2011, 10:01:05 am »

just the business ...... ??

LATEST: Kirkcaldie & Stains has revealed it has been approached about selling its famous department store, but admits it has no idea who is behind the plan.

The NZX listed company issued a statement a few minutes ago confirming it, and other shareholders, had received a letter from JC Capital, a Wellington-based entity, which claimed it was acting on behalf of an ''un-named group expressing interest in the retail assets of the company, but not the property assets nor the company as a whole''.

It added: ''The company is aware that a similar letter has been sent to a number of shareholders".

Kirkcaldie & Stains has just over 1300 shareholders, with almost 99 per cent of the company's shares owned by New Zealand based investors.

"Other than this letter, no approach has been received from J C Capital. In the absence of hearing from J C Capital the board will make contact to understand the nature of the interest and advise the market accordingly.''

Managing director John Milford said today that he had no contact with JC Capital in the past, and did not know who was behind it, but was seeking a meeting with its representatives.

Milford said the letter from JC Capital contained no details about how much it might be willing to offer for the retail business.

"I can't tell you any more because I don't know any more... The chairman and I will request a meeting, then we'll go from there. We know no more than we put in the NZX [statement].''

Milford said because it had been sent to some shareholders the company believed it needed to draw it to the attention of the share market.

"We felt it was our obligation to put it out through the NZX because all shareholders should be aware.''

A meeting is expected to happen next week.

JC Capital's sole shareholder, John Keith Chandler, could not immediately be reached for comment.

http://www.stuff.co.nz/business/industries/retail/6150685/Kirkcaldie-Stains-asked-to-sell

Kirkcaldie and Stains' quiet revolution

http://www.stuff.co.nz/dominion-post/capital-life/6117098/Kirkcaldie-and-Stains-quiet-revolution

JC Capital

John Chandler ..... http://www.linkedin.com/pub/john-chandler/35/66a/383
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Kiwithrottlejockey
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« Reply #1 on: December 18, 2011, 08:56:05 am »


So.....we now have TWO threads about the topic of Kirkcaldie & Stains.


The original thread....


Jonkey's rich-prick mates are up to their old asset-stripping tricks again


Perhaps Newtown-Fella couldn't handle a truthful thread title, so he created another thread with a sanitised title in an act of SPIN on behalf of his Nats masters and their rich-prick rip-off mates who are planning to asset-strip Kirks?

DUH....

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reality
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« Reply #2 on: December 18, 2011, 09:34:40 am »

Guess if there is a willing buyer and a willing seller ...there will be a deal..if not there wont...aint it great being in a free country Tongue
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nitpicker1
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« Reply #3 on: December 18, 2011, 10:23:12 am »



So.....we now have TWO threads about the topic of Kirkcaldie & Stains.


The original thread....


• Jonkey's rich-prick mates are up to their old asset-stripping tricks again


Perhaps Newtown-Fella couldn't handle a truthful thread title, so he created another thread with a sanitised title in an act of SPIN on behalf of his Nats masters and their rich-prick rip-off mates who are planning to asset-strip Kirks?

DUH....



lol, the poster probably thinks he knows one of the shareholders, thought I had missed the first one. 

The wrong fishies   phishies were biting !!!

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Newtown-Fella
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« Reply #4 on: December 18, 2011, 08:03:24 pm »


So.....we now have TWO threads about the topic of Kirkcaldie & Stains.


The original thread....


• Jonkey's rich-prick mates are up to their old asset-stripping tricks again


Perhaps Newtown-Fella couldn't handle a truthful thread title, so he created another thread with a sanitised title in an act of SPIN on behalf of his Nats masters and their rich-prick rip-off mates who are planning to asset-strip Kirks?

DUH....



no wwe dont have two threads about Kirjkcaldies and Stains ....

we have one that people know what it is about and is more likely to get read than your bitch fest about National thread ...

your the one not handling the fact that National had the best result by any party in New Zealand since 1951 and up from 45 percent in the last election in 2008 ......

and if you read the article its the store they want to buy and not the building ...

perhaps John Key wants to buy so Bronagh has something to do when shes not playing hostess ....

maybe it might become a  \Warehouse Store another Kmart otr maybe some Chineses are eying it up since they cant buy any farms ...

rest assured it wont be bough by the Greens as Party Headquarters 



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Kiwithrottlejockey
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« Reply #5 on: December 19, 2011, 10:00:39 am »


The other thread is a considerably better one, because the same story as posted in the first message of this thread is lavishly illustrated in the other thread!  Grin


And.....the other thread contains considerably more “other” information pertaining to Kirks, including upcoming Nats' rich-prick mates' planned asset-stripping!! 

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Alicat
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« Reply #6 on: December 19, 2011, 04:47:27 pm »


So.....we now have TWO threads about the topic of Kirkcaldie & Stains.


The original thread....


• Jonkey's rich-prick mates are up to their old asset-stripping tricks again


Perhaps Newtown-Fella couldn't handle a truthful thread title, so he created another thread with a sanitised title in an act of SPIN on behalf of his Nats masters and their rich-prick rip-off mates who are planning to asset-strip Kirks?

DUH....



There might be two threads about Kirkcaldie and Stain's but it is not obvious. This thread has the title of Kirkcaldie and Stains and it's obvious that that is what the topic is. I saw the thread title mentioning Jonkey and thought ' Bloody hell - another f***ing thread about politics' and ignored it.
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Newtown-Fella
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« Reply #7 on: December 19, 2011, 08:22:03 pm »


So.....we now have TWO threads about the topic of Kirkcaldie & Stains.


The original thread....


• Jonkey's rich-prick mates are up to their old asset-stripping tricks again


Perhaps Newtown-Fella couldn't handle a truthful thread title, so he created another thread with a sanitised title in an act of SPIN on behalf of his Nats masters and their rich-prick rip-off mates who are planning to asset-strip Kirks?

DUH....



There might be two threads about Kirkcaldie and Stain's but it is not obvious. This thread has the title of Kirkcaldie and Stains and it's obvious that that is what the topic is. I saw the thread title mentioning Jonkey and thought ' Bloody hell - another f***ing thread about politics' and ignored it.

thanks Alicat ......

it makes life a ot easier IF a thread title is about what the thread is and not some obscure thing like KTJ is always creating ...

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nitpicker1
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« Reply #8 on: June 05, 2015, 04:07:15 am »

Here we go again

Kirkcaldie & Stains takes steps for sale    
 
 
  HAMISH RUTHERFORD   

Last updated 05:00 30/01/2012

Kirkcaldie & Stains is preparing to hire brand experts to try to put a price on the 149-year-old Wellington department store, amid signs of progress towards a sale.

Chairman Falcon Clouston will this week hold a second meeting with John Chandler, the investment banker representing unnamed investors who have indicated they wish to buy the landmark retailer.

While Chandler declined to comment last week on whether an indicative offer for Kirks was being prepared, he and Clouston have been exchanging emails over Christmas and the investors are said to still have a "keen interest" in the assets ...

http://www.stuff.co.nz/business/industries/6332447/

~~~~~~~~~~~~

Kirkcaldie & Stains department store to become David Jones video

CATHERINE HARRIS, JAMES WEIR & TALIA SHADWELL

 Last updated 20:18, June 4 2015

Troubled Wellington department store Kirkcaldie & Stains, affectionately known as Kirks, is poised to shut its doors next February.

But Kirks chairman Falcon Clouston said the silver lining was that the site would reopen as the first New Zealand store of Australian retailer David Jones, which aims to retain most of the 270 staff.

Kirkcaldie & Stains is the oldest store in New Zealand still trading under its original name, dating back to 1863, and has been the city's leading department store for generations. ...

...Kirks' investors saw their shares jump 47 cents or 28 per cent, to $2.15 with the prospect of a big payout after the David Jones deal. ...


more?
http://www.stuff.co.nz/business/industries/69108799/kirkcaldie--stains-department-store-to-become-david-jones

Nitz grins

o goody gumdrops

...Kirks' investors saw their shares jump 47 cents or 28 per cent, to $2.15 with the prospect of a big payout after the David Jones deal. ...

Just a little bit of sugar helps the medicine go down






« Last Edit: June 05, 2015, 04:30:53 am by nitpicker1 » Report Spam   Logged

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Kiwithrottlejockey
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« Reply #9 on: June 05, 2015, 03:24:42 pm »


Yet another iconic business (152 years old in this case) trashed by those parasitic, asset-stripping capitalist filth, in this case Ron Brierley and Selwyn Cushing.

See the other thread on this topic (the link is posted to this thread). As soon as those scumbags purchased heaps of shares in this company with the intention of asset-stripping their property holdings, it was warned that it would lead to the eventual closure of the store and the end of a Wellington institution.

Capitalist scum who are only out to enrich their own pockets by asset stripping companies without putting anything into growing those companies, or providing additional employment should be lined up against a wall and shot. Preferably after first being tortured.
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nitpicker1
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« Reply #10 on: June 05, 2015, 09:18:18 pm »



As far as I know it was first sold before I was born, in 1985 Renouf took over and retained the Kirks name then the renouf outfit morphed into Hellaby Holdings and that's probably where the corporate raiders umm "industry rationalisers" Ron Brierley and Selwyn Cushing had their fun:



Nemmind 

I still have one of the wee "ladies" bentwood chairs that were  set at the counter, where their customers sat and waited for their change while their payments were on "fly by wire" upstairs to the cashiers cage and back to the point of sale.





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nitpicker1
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« Reply #11 on: January 17, 2016, 02:25:41 pm »

Will the last one out of Kirkcaldie and Stains please turn out the lights?

...The tills rang faint as Wellington's grand old dame bobbed her final curtsy.

As the clock struck five, department store Kirkcaldie and Stains closed its doors after 152 years of trading.

The last shopper to leave was Hilda, of Silverstream, a customer of 30 years, who clutched the signature green and gold bag with her "regular" inside - a bath towel that the staff had put aside for her. ...

http://www.stuff.co.nz/business/75953689/will-the-last-one-out-of-kirkcaldie-and-stains-please-turn-out-the-lights







 
 
 




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Alicat
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« Reply #12 on: January 17, 2016, 02:30:07 pm »

I called in there a few weeks ago with a friend who was looking for something specific at Kirks. There was barely anything there - just loads of empty shelves and open spaces. It was quite strange as Kirks had always been abuzz with people and merchandise.

It will be interesting to see what David Jones does with/to it.
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