Ag 13 october, 2015

Page 1

Tuesday, October 13, 2015

Since Sept 27, 1879

THE INDEPENDENT VOICE OF MID CANTERBURY

Retail $1.50 Home delivered from 95c

Yoga classes fun for kids Children’s yoga is set to hit the district thanks to Pendarves resident Michelle Copland.

www.guardianonline.co.nz

FULL STORY

Dissention deepens P12

Trust sells off Braided Rivers BY SUE NEWMAN

SUE.N@THEGUARDIAN.CO.NZ

Facing up to France again P24

Almost six years to the day since it opened its doors, with huge fanfare and a $1.15 million price tag, the Ashburton Trust has sold its restaurant and bar, Braided Rivers. Over those years the business earned itself a place on the trust’s list of under-performers and a decision was made that both it and the trust’s night spot The Shed, had to be either closed or sold this year, said board chairman Alister Lilley. The red flags had been raised over Braided Rivers for some time indi-

Invest in Heartland to invest in New Zealand. Call 0800 227 227 Or visit your local branch.

P5

cating some hard decisions had to be made, Mr Lilley said. “Selling Braided Rivers is the right business decision for the trust. This establishment needs more skin on the ground to run.” The trust closed The Shed in late February and has since sold the building, but the Braided Rivers business sale, won’t see the trust with money to invest. “This doesn’t signal we’ll be going out and doing something else. There will be some write-offs as it was an expensive venue to set up, but in the bigger picture this was the right thing

With roots stretching back to 1875, Heartland has a proud history of supporting small-to-medium sized businesses, farms and families in Canterbury. It’s great to offer the people of Ashburton a local banking option that is 100% for New Zealand.

to do. It’s trading figures were never flash,” Mr Lilley said. “The board looked at it, said we can’t carry on sustaining losses in some of our establishments and now we’ve dealt with them.” Braided Rivers was established with a DB loan for bar fit-out, but Mr Lilley said the trust had signed off its contractural obligations and all marketing incentives had expired.

CONTINUED

P3

Ph 03 307 7900 to subscribe! 6 Months

12 Months

Interest paid three-monthly.

Interest paid three-monthly.

3.50 3.70

*IMPORTANT INFORMATION: Minimum term deposit investment $1,000. Interest rates subject to change. The current Heartland Bank Limited Disclosure Statement, Term Deposits Product Fact Sheet and Account and Service General Terms and Conditions are available at any Heartland branch, at www.heartland.co.nz or by calling 0800 227 227.

BUFFALO/HB5748

Weather: High 14˚ - Overnight 4˚ Page 22

Puzzles: Page 21

Television: Page 23

Family Notices: Page 22

www.guardianonline.co.nz


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.