Nosh chain tipped into receivership

Nosh Food Market store in Glen Innes not open for business. Photo / Jason Oxenham

Upmarket grocery chain Nosh has been placed in receivership, Companies Office records show.

Damien Grant was appointed as a receiver on Friday.

Before the receivership, staff were waiting to be paid wages and numerous creditors had ceased supplying the stores.

Grant said it would be "very difficult" to get the stores back into trading.

He was unable to provide detail on whether staff, creditors and landlords will be paid, saying he had yet to conduct a stocktake of the business.

A Nosh in Kerikeri and one Mt Maunganui trade as independently operated stores and are unaffected by the receivership.

Kerikeri owner David Whyman said he would still prefer to stay with the Nosh brand but hoped new owners would lead it in a better direction.

Last month, Nosh closed its Auckland stores ahead of a planned relaunch on June 26.

When the time came, different notices said the relaunch had been delayed until July 8.

The relaunch didn't happen on that day either.

No sign of activity - or stock - could be seen through the mostly covered windows.

A number of employees and creditors of Nosh told the Herald last week that they were waiting for payment from the business.

Three staff members, who did not want to be named, said they were waiting to be paid wages and holiday pay.

Nosh was bought by NZX-listed food investor Veritas in September 2014. Veritas took on $5 million of funding with ANZ to facilitate the acquisition from then-owner Paul Lucas who had taken over the business from founders Clinton Beuvink and Chris Moore.

Veritas struggled to make the grocery chain profitable and was forced to sell or close the business by ANZ late last year.

Sydney-based investor Andrew Guy Phillips bought the unprofitable chain through Gosh Holding for $4m saying he had the backing of a number of wealthy Kiwis.

Phillips could not be reached for comment.