The administrators of failed retailer Postie Plus Group, which has been bought by a yet-to-be-named foreign retailer, will close 12 of the chain’s 82 shops in New Zealand, cutting 64 workers. Prior to the appointment of administrators David Bridgeman and Colin McCloy, Postie Plus management had identified a number of stores that were no longer viable, the PwC receivers said in a statement. The retailer went into …

Fonterra Cooperative Group has tapped the president of its China operations, Kelvin Wickham, to head up the newly created global ingredients while Johan Priem will take over his previous role. Wickham will become managing director of global ingredients which oversees “the sale of all ingredients globally, delivering solutions to our global accounts, tactical optimisation of demand and supply and managing the …

Sky Network Television will launch a subscription video on demand service by the end of the year in a challenge to Telecom Corp., ASX-listed Quickflix, Ezyflix and eventually US-based Netflix, which pioneered such offerings and will reportedly enter the local market officially in 2015. Auckland-based Sky TV’s new service would be free to existing customers and available for a fee …