Kitchen and furniture retailers Smiths City and Kitchen Things are to open for a "significant" liquidation sale, liquidators say.
On August 20, Kitchen Things went into receivership amid mounting losses.
Earlier this week, furniture and home appliance retailer Smiths City also went into voluntary administration.
Eight of the nine Smiths City stores across the country will be opening for a liquidation sale, as administrators called for "urgent" expressions of interest for potential buyers of the business.
Liquidators from BDO New Zealand announced liquidation sales for Smiths City began today in Auckland and Christchurch.
Tomorrow, a further five stores will open from 9am in Greymouth, Oamaru, Alexandra, Gore and Invercargill.
The Dunedin store would remain shuttered.
In a statement, BDO said licensed insolvency practitioner Colin Gower and chartered accountant and licensed insolvency practitioner Diana Matchett have undertaken "urgent assessment" of the financial position of the company.
This included a stocktake across the stores, which was completed today.
"Customers can expect a wide range of items at significantly reduced prices – over 21,000 pieces must go," it said.
"There will be no refunds offered or returns accepted.
"Gift cards will not be accepted in this liquidation sale.
"Customers who have paid deposits on existing orders, will not be able to collect their items from stores during the liquidation sale, unless they have received specific information to do so."
Customers who had paid deposits have been contacted by administrators directly, BDO said.
Some remaining customers would be contacted again in the coming days.
Discussions were continuing with parties interested in taking over business assets, BDO confirmed, while calling for further expressions of interest.
"Further updates on next steps will be made over the coming days."
Receivers for Kitchen Things on Friday announced they had completed their stocktake and were reopening nearly all stores for a clearance sale of remaining products.
All stores – excluding Hamilton and Dunedin – reopened at 10am on Friday to sell its remaining stock at heavily reduced prices.
The Hamilton store is not impacted by the receivership and administration, and would be trading as usual.
"The sale includes stock not already allocated to preexisting customers affected by the receivership," Kitchen Things receiver Stephen Keen from Grant Thornton New Zealand said in a statement.
"While people have the opportunity to get some bargains, they need to be acutely aware typical warranties and guarantees won’t apply to their purchases, and refunds, returns and exchanges also aren’t available."
The stores, which will only accept EFTPOS and bank transfers, would remain open "with a view to achieving a going concern sale, or until as much stock as possible has been cleared".
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