LWR in SFO probe

Failed clothing maker Lane Walker Rudkin is to be the subject of a Serious Fraud Office investigation, following a referral from the company's receivers, BDO Spicers.

Neither the receiver nor the SFO are being forthcoming on the reasons for the probe, which follows the once iconic sportswear company going into receivership in late April, owing creditors $121 million, including $111.4 million to Westpac.

LWR is owned by prominent Christchurch businessman Ken Anderson, whose marriage collapsed shortly before the receivership.  Comments by union negotiators at the time of the receivership cited instances of deteriorating decision-making at the company in the two years prior to its failure.

Businesswire.co.nz

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