Bank Repossession

1000 people are to lose their jobs as outdoors clothing chain Colorado, battered by debt cuts corners. A going-out-of-business sale will empty Colorado's 109 shopfronts across Australia and New Zealand within five weeks, slashing by one-third the size of the chain's parent company, Colorado Group. Receiver Brendan Richards of corporate recovery firm Ferrier Hodgson said the closures would include 100 stores trading under the Colorado banner in Australia and a further nine in New Zealand "The Colorado brand lost its way over the course of the last six or seven years, and the change in the economic environment and the downturn in the retail market has led this to happen." Mr Richards said the closures would eliminate loss-making sites, leaving a portfolio of 281 profitable stores dominated by the Williams and Mathers brands, which would have 135 and 73 stores respectively The move to close Colorado comes less than two weeks after the administrators of...

Author Alan Duff of Once were warriors fame has admitted to a New Zealand court that he will not be able to pay back the $NZ3.6 million ($A2.87 million) he owes creditors over a failed property venture. Alan duff almost bankrupt The man behind the famed Once Were Warriors story that propelled New Zealand's gang culture onto the world stage is in financial ruin. Alan Duff (born October 26, 1950, Rotorua, New Zealand ) is a New Zealand novelist and newspaper columnist, most well known as the author of Once Were Warriors . Buy Once were warriors Dvd from amazon Once were warriors author in debt The Dominion Post questioned why Duff, now based in France, was driving a Lexus and playing golf at one of the country's most prestigious golf clubs during his summer visit home, but Duff insists he is not spending recklessly. It is a big fall from grace for Duff who wrote the acclaimed best-selling novel Once Were Warriors, a violent love story adapted for a hard-hitting 1994 mov...