Nido is to close after attempts to sell the business failed. Magsons Hardware, trading as Nido, went into receivership in December and was placed into liquidation on Tuesday, plagued by construction and funding problems. SUPPLIED The receivers’ first report showed Nido furniture store in Auckland owes $22.3 million to creditors and staff. Nido was put into receivership after the liquidation of the construction company building the store, Vijay Holdings, in November. The receivers' first report showed Nido owed $22.3 million to creditors and staff.

Source: Stuff February 23, 2021 00:51 UTC