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SINGAPORE – More than 440 creditors are owed at least $ 31.7 million by department store stalwart Robinsons, which is closing its last two stores here.
In a notice issued to creditors dated last Friday (November 13), interim liquidator KordaMentha said that 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 released 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 cosmetic brands Estee Lauder, Elizabeth Arden and Clarins.
Also listed are local brands such as fashion brand Klarra and Ette Tea.
Other named creditors include Orchard Road Business Association, Singapore Press Holdings and Singtel.
Robinsons said on Oct. 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 like 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 present their proof of debt and proxy form to the liquidators in order to be eligible to vote at the meeting.
Those who wish to attend the meeting should also email the liquidators at [email protected]
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