New buyer sought for iconic Kiwi shoe brand Bobux as it falls into receivership
Bobux International has been placed in receivership after Covid-related supply chain issues, overstocking and an IT system revamp pushed the business to collapse.
New Zealand’s kids’ shoe brand Bobux International has been placed in receivership after Covid-related supply chain issues, overstocking and an IT system revamp pushed the business to collapse.
Founded in 1991 by Colleen and Chris Bennett, the brand sells high-quality shoes, boots and sandals for toddlers and kids. The label is sold in 40 countries internationally as well as online.
The company says the shoe’s custom design is approved by podiatrists and aids in healthy and natural foot development.
Lender Bank of New Zealand appointed McGrathNicol NZ’s partners Conor McElhinney and Andrew Grenfell to assist in the sale of the business and its associated companies.
“This is a tragic outcome for our staff, suppliers and customers after putting our hearts and souls into the business for 30 years,” Chris Bennett told The Australian Financial Review.
“Our sincere hope is that a buyer can be found to take Bobux forward.”
During the receivership, the company will trade as normal while liquidators work to sell off its remaining stock.
This article was first published by Inside Retail.
