Auckland shoppers face the closure of multiple retail outlets as Yoyoso, Miniso and Acecco enter liquidation, leaving millions owed to creditors, employees and the tax department.
Financial Struggles Behind the Collapse
The High Court placed ANCZ Limited and 23 related companies into liquidation after creditor applications. The chain operated more than 30 stores across Auckland, with several remaining open as liquidators work to sell stock.
Key stores still trading include Miniso locations in Glenfield, Ormiston and Lorne Street, Yoyoso in Newmarket, and Acecco supermarkets in Northcote and Mt Albert. Some outlets had already closed due to declining revenue.
Debts and Creditors
Liquidators report the group owes millions. The China Construction Bank is owed nearly $3 million, unsecured creditors more than $2 million, and the Inland Revenue Department around $940,000 for tax and payroll obligations. Former employees are owed approximately $217,000 in wages and holiday pay.
Unsecured creditors may not recover their full amounts, while liquidators continue to assess store assets and stock for sale.
Broader Retail Pressures
Analysts say the collapse reflects ongoing challenges for brick-and-mortar retailers in New Zealand. Rising operating costs, overseas competition, and growing online shopping have strained mid-tier lifestyle and novelty stores.
The liquidation comes amid a broader trend of struggling businesses in the post-pandemic economy, highlighting risks for both investors and local employment.
Local Impact and Next Steps
Shoppers will notice fewer options for lifestyle goods as stores gradually close. Creditors and landlords are now involved in the formal liquidation process, and stock will be sold in phases.
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