Canterbury fate still uncertain

On deadline, there was no news yet about the appointment of a Canterbury distributor in SA, although an announcement from Canterbury International had been expected this week. By the end of this week the liquidators had released some stock for distribution to retailers awaiting orders.

Canterbury International SA is one of the three companies formerly jointly owned by Dave Linder and House of Monatic (HoM) that had been placed under voluntary liquidation by the holding company, Brimstone Investments, at the end of January. The other two are Fifth Element (which manufactured for large chains like Woolworths) and O’Neill, with the licensing rights to the brands O’Neill, RipTear and Barbie. (see Pure Sport release below). Linder sold his shares in the three companies to HoM in July last year. According to HoM CEO Iqbal Khan, Birmstone decided to liquidate the companies after alleged serious irregularities were uncovered during an unannounced SARS (Customs & Excise) audit, during which the companies were closed down between 18 December 2008 and 14 January this year. The company has ordered a forensic audit, covering the past five years.

Canterbury was bought by Linder’s Fifth Element, then part of HoM, in March 2007, and shortly thereafter the former Canterbury SA owner, Paul Zacks, left, and Linder took over the running of the company. Canterbury is not only the supplier of Springbok supporter’s wear, but also of the Cheetahs, Golden Lions and Sharks. They also sponsor Santos, four cricket franchises and all the Varsity Cup teams.