BDO Spicers, the receivers for Lane Walker Rudkin, are putting up the business for sale.
The business will be broken up for sale with the hosiery, underwear and sports clothing manufacturing and distribution businesses and a screenprinting operation all up for grabs.
BDO Spicers is running a tender process for the sale of the assets of the business. It will be up to interested parties to determine whether they were interested in buying the entire business or individual parts. Tenders close on May 22.
The receivers have effectively launched a fire sale of LWR's assets.
LWR's main creditor is the Westpac Bank.
LWR workers in Brisbane have already been told that the factory will be sold and their jobs are more than likely to go.
It would appear that all the huffin' and puffin' from various politicians and trade unionists has come to nought.
There will be substantial job losses.
So far there has been no comment from Christchurch Mayor Bob Parker - who said he was 'going to do everything he could to save the business' - or from local MP's like Ruth Dyson. Both are supporters of the neoliberal economic policies that led to LWR's downfall in the first place.
There has also been no comment from the southern secretary of the National Distribution Union, Paul Watson, who said he was hoping for a 'positive way forward for LWR'.
Other than the Alliance Party, no-one has argued for the public ownership of LWR in order to safeguard jobs.
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