Retail Collapse: Yoyoso Group Enters Liquidation Owing Millions; Auckland Stores Set to Close

By Lions Roar News Business Desk

AUCKLAND, NEW ZEALAND (January 12, 2026) — The New Zealand retail landscape has been hit by a major collapse as the Yoyoso group of companies—encompassing popular brands Acecco supermarkets and Miniso lifestyle stores—has officially entered liquidation. The group, which once boasted 23 retail locations primarily across Auckland, reportedly owes millions of dollars to creditors, employees, and the government.

The downfall of the Asian retail giant follows a broader trend in New Zealand, where business liquidations reached a decade-high peak of 300 per month late last year.

? The Scope of the Liquidation

At the time liquidators were appointed, only eight of the group’s 23 locations were still operational.

• Store Closures: The Northcote Acecco supermarket has already been shuttered due to a lack of revenue. However, the Mt Albert branch remains open temporarily.
• Trading Down: Remaining Yoyoso and Miniso stores are currently “trading down” to clear existing stock. Most are expected to be vacated and closed permanently by the end of January 2026.
• Global Context: Yoyoso is a well-known international Korean brand with over 5,000 stores globally, but its New Zealand arm has proved unable to weather the current economic climate.

? Millions Owed to Creditors

The first liquidator’s report paints a grim financial picture for the group’s 16 non-trading and eight trading entities.

• Employee Claims: Former staff are owed approximately $217,000 in wages, holiday pay, and redundancy. While $63,000 has been paid out so far, liquidators hope to pay trading staff their full entitlements.
• Tax Debts: Preliminary records show a massive debt to the Inland Revenue Department (IRD), including $910,000 in GST and $30,000 in PAYE deductions. Liquidators have warned that the IRD is unlikely to recover 100% of these funds.
• Unsecured Creditors: At least $2.1 million is owed to unsecured creditors, including landlords and suppliers.

?️ A Troubled Retail Sector

The collapse of the Yoyoso group is a stark reflection of the pressure on the retail sector. High inflation, reduced consumer spending, and rising operational costs have contributed to a surge in business failures.

“As stock levels reduce and landlords make decisions on timing, these storefronts will simply disappear from our malls and high streets,” the report noted.