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SINGAPORE – The Robinsons department store in Raffles City will remain open for the Christmas and New Years period next year, although it has not yet officially announced its last day.
Meanwhile, this week offers greater discounts on items from the cosmetics, toiletries, toys and appliances sections.
Robinsons liquidators KordaMentha said on Monday (December 21): “We are not yet in a position to confirm the last day of trading, as we do not want to harm the outcome of the sales campaign and therefore the recovery. of creditors “.
The Straits Times, however, understands that the trade spread after negotiations between the liquidators, owners and other interested parties.
“Through these negotiations, we have successfully agreed to terms that allow for an extension of the negotiation on favorable terms, which will produce a more favorable outcome for unsecured creditors,” said a KordaMentha spokesperson.
Additionally, there will be no commemorative events to mark the holiday season, the spokesperson added.
On October 30, Robinsons had announced the closure of its last two outlets in Singapore, saying the decision to liquidate was due to a variety of factors, including changing consumer tastes and cost pressures such as rent.
Their flagship store at The Heeren on Orchard Road closed its doors last Wednesday (December 16).
KordaMentha would have completed the realization of the Robinsons assets when the Raffles City store is closed. Your last day of opening will also be the last day of work for the store’s sales staff.
Some back-office employees will stay on for a short period to handle post-closing duties.
“Our focus will be on distributing the recoveries achieved to unsecured creditors. We are hopeful that we will be in a position to make this distribution in June 2021,” KordaMentha said.
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