Nido operator in receivership - discounting campaign likely

Nil Einne on 05/12/2020 - 00:37

First sympathies to all those likely to be affected; staff, customers awaiting an order, suppliers, investors, and the founder and other managers.

Just read this news, Magsons Hardware the company operating Nido has gone into receivership. This is related but separate from the earlier collapse of the company building the store

https://www.nzherald.co.nz/business/magsons-trading-as-nido-…

https://www.stuff.co.nz/business/123606799/could-ikea-could-…

From a Cheapies angle, according to those sources as generally happens with this sort of thing, a discounting campaign is likely to begin to clear stock to repay creditors.

General Discussion

Related Stores

nidoliving.co.nz
nidoliving.co.nz

Comments

  • kevinh89 on 05/12/2020 - 08:38
    +1

    My wife mentioned this last night, and yes, I woudnt be strange that they go into "recover as much money as we can however we can". So yes, despite we cant confirm it, it does feel highly likely that a sale is coming up soon.

    Nido furniture was not too much of my taste, it felt like an IKEA knock off, even the format of the store, but IKEA has more of a one unique flow rather than move around all the stuff like Nido. Their deco stuff was nice in general.

    Anyhow, hopefully, small investors wont get scammed, large investors have more money to spare and hopefully sale gets announced soon enough.

  • doubledippps on 06/12/2020 - 15:53

    I'm from South island so never heard about Nido, just check out their website, are they always only available in store?

    • kevinh89 on 07/12/2020 - 07:47

      They used to have their products on their web, not the full range and withouth prices, forcing you to pop by the store, pretty crappy honestly.

  • The Hound on 07/12/2020 - 11:55

    News article suggested this would the perfect site when the real IKEA arrives on our shores, lol.

  • wowbigdeal on 12/12/2020 - 09:38
    +1

    The Nido Facebook page now states the receivership sale is happening. Currently 10-50% off everything in store.

    https://www.facebook.com/nidonz/
    https://www.nidoliving.co.nz/

  • Banto on 16/12/2020 - 11:37

    And I thought I could stock up on some milk powder!

  • Meridian on 16/12/2020 - 13:01

    Now its saying 20-50% off everything.
    with

    50% of lighting , 40% manchester, 50% off ironing boards (weird) and 20% of furniture.

    Guess the 10% wasnt doing it for them . Someone I know went there and said at the 10-20% level which the vast majority of stuff is - is still not that great.

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