150 inquiries for SCF assets

Photo / Dean Purcell

South Canterbury Finance's assets have attracted more than 150 expressions of interest, and the receivers have invited submissions on proposals to advise them in the sell-off.

Receivers Kerryn Downey and William Black of McGrathNicol said they have received inquiries from local and international investors interested in buying various assets belonging to SCF, and are calling on investment banks to submit proposals on advising and assisting in the sales process.

More information on the sale process will be forthcoming in the coming weeks.

Downey said they have made "significant progress" towards finalising a staff retention package with senior management and staff, who are maintaining the business a going concern to preserve the value of the assets.

Last week the receivers said the firm's borrowers would still have access to credit.