Robinsons owes over $31.6 million to some 440 creditors: Notice

Staff Writer, Singapore
·Editorial Team
·2-min read
The Robinsons department store at the Raffles City mall seen closed on 7 April 2020, the first day of Singapore's month-long circuit breaker period. (PHOTO: Dhany Osman / Yahoo News Singapore)
The Robinsons department store at the Raffles City mall seen closed on 7 April 2020, the first day of Singapore's month-long circuit breaker period. (PHOTO: Dhany Osman / Yahoo News Singapore)

SINGAPORE — Department store chain Robinsons owes over $31.6 million to some 440 creditors, according to a notice dated last Friday (13 November).

The notice, which was made public online on Wednesday, provisional liquidator KordaMentha said that an online creditors' meeting will be called next Thursday (26 November) at 2pm.

According to it, a committee of inspection of not more than five members, if thought fit, will be appointed during the meeting, and creditors will receive a statement of the company's affairs together with a list of creditors and the estimated amounts of their claims.

Among the 442 creditors, as of 29 October as per management accounts, are major mattress companies such as Simmons, Sealy and Serta.

International cosmetic retailers such are Clarins, Amorepacific, Estee Lauder, Elizabeth Arden and L'Oréal, as well as sportswear brand Adidas, were among those on the list.

Creditors have till 4pm next Wednesday to submit their proof of debt and proxy forms to the liquidators to be entitled to vote at the meeting.

While attendance at the meeting is not compulsory, those who wish to attend it can email the liquidators at robscreditors@kordamentha.com by the same time next Wednesday.

The department store chain announced on 30 October that it had begun the liquidation process for four outlets – two in Singapore, and two in Malaysia.

The affected stores in Singapore are those at The Heeren and Raffles City malls. Robinsons had previously announced in May that it would close its Jem outlet in August.

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