Haywrights Ltd
Date established
1969
Date closed
1980
History
In 1969 the Department Store division of Wright Stephenson & Co Ltd merged with Hay's Ltd and a new retail company, Hay's-Wright Stephenson Ltd was established. This resulted in Wright Stephenson gaining a 41% interest (to be converted to 50% in August 1974) in one of the country's largest retail groups. The terms of the merger involved the sale of the trading assets - but not buildings - to Hay's Ltd in exchange for share capital in the newly-named company. The Head Office of the new company was established in Christchurch, with management involvement of Wright Stephenson personnel and Wright Stephenson had 3 directors on the Board.[1]
At the time of the merger Stewart E Mair was Chairman of Hay's (since 1967) and he remained Chairman of Hay's-Wright Stephenson Ltd until his death in December 1969. Sir Clifford Plimmer, previously deputy chairman, succeeded him as Chairman.
On August 1, 1970 Hay's-Wright Stephenson Ltd changed its name to Haywrights Ltd. Also in 1970, Mr Gordon R McArthur was appointed Manager of Haywrights Ltd in Wellington. In October of that year, WGW Rix retired as joint managing director of Haywrights (appointed in 1962) and his co-joint managing director, GR Lawn, became sole managing director. Mr Rix became a Board member in 1952 and remained on the Board after his retirement.
In 1976, Challenge Corporation's shareholding in Haywrights was reduced to 43% [2] and this 43% shareholding was sold in 1980. [3]
At the time of the merger Stewart E Mair was Chairman of Hay's (since 1967) and he remained Chairman of Hay's-Wright Stephenson Ltd until his death in December 1969. Sir Clifford Plimmer, previously deputy chairman, succeeded him as Chairman.
On August 1, 1970 Hay's-Wright Stephenson Ltd changed its name to Haywrights Ltd. Also in 1970, Mr Gordon R McArthur was appointed Manager of Haywrights Ltd in Wellington. In October of that year, WGW Rix retired as joint managing director of Haywrights (appointed in 1962) and his co-joint managing director, GR Lawn, became sole managing director. Mr Rix became a Board member in 1952 and remained on the Board after his retirement.
In 1976, Challenge Corporation's shareholding in Haywrights was reduced to 43% [2] and this 43% shareholding was sold in 1980. [3]
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