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Andrea Moore collapsed owing millions to creditors
Kiwi fashion label Andrea Moore collapsed owing more than $2.5 million.
The company went into liquidation and receivership on January 9, citing "highly damaging" late deliveries, "crippling" creditor payment defaults, and extensive roadworks for its downfall.
On Wednesday, the liquidators' first report was released, which outlined Andrea Moore's initial financial position. It showed the label owed about $2.54m to its creditors.
However, that figure did not include all creditors, so was expected to rise.
The company's assets are yet to be calculated, so it remains unclear how many creditors would be paid all or part of what they are owed.
Read the full article by Chloe Winter > Business Day - stuff.co.nz