A notice to employees regarding the time, location and purposes of the first meeting of creditors.

A letter to employees notice informs staff about important changes, updates or decisions related to their employment or workplace.

In order to provide additional support for those staff whose positions have been made redundant, we have arranged for assistance from Retailworld NZ.

Retailworld NZ is a highly regarded retail recruitment company in New Zealand, with offices across the country to support our staff.

Please contact Retailworld, as they will assist you with updating your resume, applying for new roles, and providing interview support. They also have a number of retail clients looking for experienced staff.

Auckland:
Georgia Hinton
georgiah@rwr.co.nz
Shopfront Team Leader – Auckland | P +64 9 520 7767 | M +64 20 4026 5781

Lower North Island:
Vanessa Stevenson
vanessas@rwr.co.nz
Director – LNI | P | M +64 210 261 8724

South Island:
Stuart Armstrong
stuarta@rwr.co.nz
Director – South Island | P +64 3 741 9606 | M +64 27 916 1728

Everyone’s employment will continue as usual while we assess the business over the next few days.  You will report to your usual supervisor at either the stores or warehouse. We will update you as soon as possible regarding next steps.

You will be paid your wages as usual into your usual bank account and on the same day as usual.

If you have booked annual leave, or want to take annual leave the process will remain the same and will need to be approved by your supervisor.

If you take annual leave during the administration this will be paid in your normal payroll.

If you are full time or part time staff and entitled to be paid public holidays under the Holidays Act and your employment agreement, then you will be paid for Easter public holidays as usual.

There is a statutory priority for certain employee entitlements up to $25,480 which includes unpaid wages and holiday pay which is paid in priority to other creditors.

If you are owed more than $25,480 or are owed amounts which do not fall within your preferential claimthen those amounts are an unsecured claim and rank equally with other creditors.

These amounts will be frozen and won’t be paid until we have realized sufficient assets to make payment. We will keep you updated as to the timing of any payment.

There are a number of parts of the business that are unprofitable which will need to change.As a result, some roles will be disestablished.  We are currently undertaking an assessment and we will keep you updated on that process.

The shareholders do not propose to sell the business, they intend to put up a proposal to restructure the business.

The details of that proposal have not been provided as yet.

Once we have assessed the proposal and the business we will make a final decision and communicate that to you as soon as possible.

If as a result of our review your position is made redundant you will be entitled to notice andpotentially redundancy compensation as set out in your employment agreement.

Any redundancy compensation owing to you will be included in the calculation of the preferential amount of $25,480. Any payment in lieu of noticeowing to you does not fall within your preferential claim and would be an unsecured claim.

These amounts will be frozen and won’t be paid until we have realized sufficient assets to make payment. We will keep you updated as to the timing of any payment.

You can get a copy of your employment contract by email ezibuy@olveraadvisors.co.nzand one will be sent to you.

The administration period itself normally takes no more than five weeks.  It is our intention to go to court to seek an extension until 15 July 2023.  This will allow us to make a better assessment of the options for the company.

We will hold a weekly on-line briefing with staff from stores and the warehouse which can be viewed through a link to your email address.

A from Mosaic head office will meet with store staff and management next Tuesday 4 April 2023 for stores and Wednesday 5 April 2023 for warehouse.

The first meeting of Creditors will be held on 14 April 2023 in Auckland.  We will arrange for the meeting to be televised so you can attend remotely.

The date of the second meeting when creditors will decide the future of the company has not been set.

At the first meeting we will give an overview of our initial review and creditors can vote on two things:

1. setting up a committee of creditors to work with us; and
2. appointing an alternate administrator to us.

All employees are creditors of the company and will be provided with the same information as any other suppliers.

As a creditor you are entitled to vote at any meeting of creditors.  To do this you need to lodge a Proof of Debt and a Proxy Form.

(This has been provided for you under ‘Forms’)

By Email

Ezibuy payroll will calculate your current entitlements and send them and the Proof of Debt form to your email address.

They will do this before each meeting of creditors.

In person

They will also be available from your employment location either the store or warehouse on Thursday 6 April 2023.

Download now

You can download a blank form now and put in your own estimate, and email it to email ezibuy@olveraadvisors.co.nz

Ezibuy Payroll team is currently calculating  yourannual leave entitlements as at 2 April 2023.

Details of the amount you are owedwill be sent to you at your nominated email address so that you can check the calculation. Once you have checked the calculation and once signed you will need to return the forms to us ezibuy@olveraadvisors.co.nz

If we do nothave an email for you on file or it is out of date, please email ezibuy@olveraadvisors.co.nz

If you think the amount or calculation is incorrect or you have questions, please contact Ezibuy payroll on the normal number.

Complete the proxy form if you cannot attend the meeting and wish to appoint a person to attend the meeting and vote on your behalf

Action:

Download & Complete
Submit to ezibuy@olveraadvisors.co.nz

*Please submit by 13th April (3PM NZST) to attend the meeting*