New Zealand retailer Smiths City will relaunch under new ownership after two self-described "Kiwi entrepreneurs" purchased the brand out of liquidation.
The company, which went into voluntary administration in September last year before entering liquidation the following month, confirmed the sale in a joint statement with liquidators BDO Christchurch on Friday.
NZ Companies Office records show Smiths City 2026 Limited was incorporated on February 23, with two directors listed: Ric Sheehan and Michael Bell.
The new owners said they had bought more than a business.
"We didn't just buy a business – we bought a legacy," they said in a statement posted to the company website.
"Smiths City has been part of Kiwi homes for over 100 years, and we felt a real responsibility to rebuild it properly."
BDO Christchurch partner Colin Gower, who was appointed as administrator and then liquidator alongside Diana Matchett, said the firm had run a structured sale process over several months to find a buyer capable of preserving the brand.
"Smiths City is one of New Zealand's most recognised retail brands, and throughout the liquidation process there was clear interest in seeing it continue in some form," Gower said ina statement to 1News.
"We worked closely with prospective buyers to find an outcome that gave the brand the best chance of a genuine future."
Christchurch-founded entity closes doors while administrators assess the books. (Source: 1News)
Originally established in Christchurch in 1918, Smiths City cited increasing financial pressure in a challenging economic environment when it entered administration.
Administrators at the time called for urgent expressions of interest from potential buyers.
The relaunched business will focus on homeware, office products and technology, with the new owners saying they wanted to honour the retailer's heritage while introducing a customer experience designed for today's market.
"Our focus is on creating a business that feels familiar, dependable and proudly Kiwi," the owners said.
"We want customers to feel confident when they shop with Smiths City – whether they are purchasing for their home, their family or their workplace."
'This is about showing our kids what's possible'
The owners, both fathers, said the purchase had a personal dimension.
"As dads, this is about showing our kids what's possible," they said.
"We want them to see that when you believe in something – and you're willing to put in the work – you can rebuild, create, and make a difference."
The new owners acknowledged BDO's role in making the deal possible.
"BDO managed a difficult process professionally and gave us the opportunity to take this brand forward," they said.
The owners said they were committed to rebuilding trust with customers and were focused on the long term.
"We're here for the long term. This is about rebuilding trust, reconnecting with customers, and creating a business we – our kids – and our customers can be proud of."
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