New Zealand's Financial Woes: 10 Businesses That Didn't Make It to 2026
The economic struggles of 2025 hit New Zealand hard, with many businesses facing an uphill battle for survival. While some commentators urged companies to hold on until the new year, the harsh reality is that several prominent names couldn't weather the storm.
Here's a list of 10 notable businesses that closed their doors in 2025, each with its own unique story:
GrabOne: This discount voucher business left customers in a lurch when it liquidated in October, owing over $16.5 million. Despite its initial success, marketing expert Bodo Lang attributed its downfall to a lack of value for customers and declining brand awareness.
Kitchen Things: Even the purveyors of luxury kitchen supplies couldn't escape the economic downturn. They entered receivership in August, citing weak consumer demand and intense competition.
Smiths City: Shockwaves were sent through Christchurch when this iconic company, founded in 1918, entered voluntary administration in September. Financial pressures and a challenging economy sealed its fate.
Smith & Caughey: After nearly 150 years, this Queen St landmark closed its doors in July. Increased competition, economic uncertainty, and low consumer confidence contributed to its demise.
Fortune Favours: The Wellington brewery succumbed to the cost-of-living crisis, announcing its bar's closure in August.
NZSale: This online retailer stopped taking New Zealand orders in November, with its Australian counterpart, OzSale, set to close in the new year.
Timeless Events: The organizers of Juicy Fest faced a challenging year, entering voluntary liquidation in March. The festival's cancellation in Auckland due to liquor license issues was a significant blow.
The Body Shop: A beloved brand for millennials, The Body Shop's New Zealand stores closed in April, with 70 jobs lost. Financial troubles in the UK led to its local liquidation, but a new franchise owner has since emerged.
Libelle Group: Providing school lunches under a contract with Compass, Libelle Group's liquidation in March left nearly 250 creditors in the lurch.
DFS: The high-end fashion retailer, with stores in Auckland and Queenstown, shut down in September. Despite a revamp in 2018, it couldn't sustain its business in the challenging economic climate.
And there you have it—a sobering reminder of the economic challenges faced by businesses in New Zealand. But the story doesn't end here. What do you think about the reasons behind these closures? Are there any controversial factors at play? Share your thoughts and let's continue the conversation!
