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SINGAPORE – More than 440 creditors are owed at least $ 31.7 million by Robinsons, a big-box store stalwart, who is closing his last two stores here.
In a notice issued to creditors dated last Friday (November 13), interim liquidator KordaMentha said an online meeting of creditors will be convened on November 26 at 2pm.
An inspection committee of no more than five members will be appointed during the meeting, and creditors will receive a statement of the company’s affairs, says the notice that was made public by the liquidator on Wednesday.
Among the 442 creditors listed, as of Oct. 29 according to management records, are mattress companies such as Simmons, Sealy, Serta and Tempur.
Other retailers and businesses named as creditors include the Estee Lauder, Elizabeth Arden and Clarins cosmetic brands.
Local brands such as the fashion brand Klarra and Ette Tea are also listed.
Other named creditors include Orchard Road Business Association, Singapore Press Holdings and Singtel.
[[nid:507141]]Robinsons said on October 30 that it had decided to liquidate its Heeren and Raffles City stores due to factors such as changes in consumer tastes and cost pressures such as rent.
The KordaMentha liquidator will take control of Robinsons assets and evaluate options for obtaining value and maximizing returns for creditors.
Creditors have until 4 pm on November 25 to send their proof of debt and proxy form to the liquidators so they can vote at the meeting.
Those wishing to attend the meeting should also email the liquidators at [email protected]
This article was first published in The times of the strait. Permission is required for reproduction.
