Christchurch Stirling Sports Stores Enter Liquidation, Owing $760k

The company operating two Stirling Sports stores in Christchurch has entered liquidation, with debts totaling nearly $800,000. Hamleigh Holdings, which owns the franchises for Stirling Sports The Palms and Stirling Sports Northlands, was placed into liquidation on October 28, 2023. The appointment of Brenton Hunt from Insolvency Matters as the liquidator marks a significant turn of events for the business.

Simon Leigh, the sole director of Hamleigh Holdings, attributed the company’s financial difficulties to a challenging economic environment that has severely impacted sales and cash flow. He noted that rising operating expenses, along with increasing supplier and landlord costs, rendered the business unviable.

In a statement to the liquidator, Leigh mentioned that he had been trying to sell the business for the past year but was unable to secure a buyer. This lack of interest underscores the broader struggles many retailers face in the current economic landscape.

The Northlands store, which spans 200 square meters, is currently being marketed on Trade Me as a “franchise opportunity” with an asking price of $40,000. However, potential buyers should note that the total investment required—including the Stirling Sports joining fee, territory fee, stock, and store fitout—rises to approximately $270,000.

The liquidation of Hamleigh Holdings serves as a reminder of the challenges facing retail businesses in Christchurch and beyond. As the economic climate continues to fluctuate, many companies are reassessing their operations and financial strategies to navigate these turbulent waters.