Retail chain Yoyoso has gone into liquidation, leaving unsecured creditors at risk of not getting their money back. The Yoyoso group, which includes Yoyoso, Miniso, and Acecco, is facing financial difficulties.
Liquidators McDonald Vague have announced the closure of eight Yoyoso shops in Auckland, with the remaining stores expected to shut down by January 2026. Former employees are owed approximately $217,000 in wages, holiday pay, and redundancy pay. Inland Revenue is likely owed $940,000 in taxes and deductions.
Retail consultant Chris Wilkinson highlighted a shift in consumer behavior towards online shopping platforms like Temu and AliExpress, impacting Yoyoso’s traditional retail model. Retail NZ CEO Carolyn Young noted the challenging retail landscape in New Zealand, with businesses struggling due to economic conditions.
The closure of Yoyoso serves as a reminder of the tough retail market in New Zealand and the need for businesses to adapt to changing consumer preferences to survive in the industry.
