Latest: Bryers seeks debt compromise, Dairy Brands sells 2, Restaurant Brand sales up.
14 December 2000
Short-term apartment converter and developer Mark Bryers, whose string of companies collapsed midyear, has filed a proposal for a debt compromise under part XV of the Insolvency Act. His creditors’ meeting, organised by provisional trustee Geoff Hamilton, will be held at the Institute of Chartered Accountants in Remuera on Friday 22 December. He was turning the MLC building at 380 Queen St into apartments when the rout began. That building subsequently turned into a Scenic Circle hotel, called the Airedale, which opened last month. He also planned an apartment management group, Regal Hotels, which went into liquidation along with the others although he was no longer directing it.
12 December 2000
Dairy Brands NZ Ltd has sold two properties, Murrayfields at Culverden and Pukeuri in North Otago,for $5.4 million. The company will seek shareholder approval early next year to sell its remaining 12 farms.
Restaurant Brands NZ Ltd raised sales in the 13 weeks to 4 December by 13.1% to $60.7 million, and total sales for the year by 6.7% to $234.1 million. Non-KFC sales increased 62.3%, rising from 21% to 30% of sales. After incorporating Eagle Boys quickly into the Pizza Hut business, it now has 60 declos (takeaway and delivery outlets) and 22 restaurants.