MACDUFFS LIMITED
RECEIVERSHIP ENDING The directors of Macduffs, Limited, in a circular to shareholders, state that the appointment of a receiver by the debenture-holder on November 1, 1938, will be terminated on September 30, and the money owing to deferred creditors will be completely paid off on this date. After the appointment of the receiver, the company underwent a reorganization, and since then steady progress has been made. In September 1939, a payment of 7/6 in the £1 was made to deferred creditors, and a similar payment was made in February of this year., The company will have completely discharged this indebtedness on September 30. The directors had conveyed to the creditors their warm appreciation of their tolerance. The progress made by the company was in no small measure due to the moratorium granted and the helpful attitude shown by them. The efforts of the management and staff had, of course, contributed largely to the success achieved; and this had been no easy task considering the many difficulties of present-day trading.
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https://paperspast.natlib.govt.nz/newspapers/ST19400910.2.10.4
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Southland Times, Issue 24227, 10 September 1940, Page 4
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171MACDUFFS LIMITED Southland Times, Issue 24227, 10 September 1940, Page 4
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