Liquidation action dropped

A supplier to New Zealand-wide Champions of the World sportswear chain has dropped its liquidation suit, following the sale of the retailer.

C-Force Textile Industries, one of the suppliers to the Champions chain, withdrew its application to liquidate the company in the High Court at Christchurch yesterday, after reaching settlement with a company, the Press reported.

Christchurch-based businessman Kenneth Anderson was still registered as owner of the Champions of the World clothing retailer on the Companies Office website, but the business and its assets - including its eight stores and all stock - were sold to SportNZ at the end of last year.

The sale came after one of its manufacturers, Christchurch-based Lane Walker Rudkin Industries (LWR), was put into receivership last April.

- NZPA