Moving company Allied Pickfords in New Zealand has given assurances it is ‘‘business as usual'' despite its parent company, Sirva, filing for chapter 11 bankruptcy in the United States in order to restructure the indebted global entity.
Sirva Group (NZ) Ltd managing director Graham Sutcliffe said Sirva's operations in New Zealand, Australia, Asia and Britain were not cited in the US filing or affected in any way by the recapitalisation exercise as they were self-funding businesses.
Sirva Inc, in Chicago, said in a statement it had reached agreement with lenders to restructure its debt, reducing it by about $US200 million through the voluntary prepackaged chapter 11 reorgan isation, which may take 60 to 90 days.
