The exit puts an end to the at least six years of losses that Robinsons has chalked up against
declining revenues. PHOTO: CMG
ROBINSONS Singapore, one of the oldest retailers in the Republic with more than a century in business, will close down for good following losses in recent years. But its last two stores at The Heeren and Raffles City Shopping Centre may remain open for a while more for final sales.
The Business Times (BT) on Thursday found that the department store operator had been put under a creditors' voluntary winding-up.
Robinson & Co (Singapore) confirmed it in a statement on Friday. Its senior general manager, Danny Lim, said: "We regret this outcome today. Despite recent challenges in the industry, the Robinsons team continued to pursue the success of the brand. However, the changing consumer landscape makes it difficult for us to succeed over the long term and the Covid-19 pandemic has further exacerbated our challenges."
He added that it has been "an honour" for Robinsons to serve the Singapore market and that he was "grateful for the dedication of (the) team, and for the support shown by (its) customers over the years".
Robinsons employees have been informed by management and the provisional liquidators of this news. The company said that employees will be paid in line with the next payment cycle, "well in advance of the usual liquidation process timing which would usually take months".
It added that the liquidators will also work with The Singapore Manual & Mercantile Workers' Union (SMMWU), E2i and the NTUC Job Security Council to ensure that employees are supported and will also leverage existing government schemes such as SkillsFuture's SGUnited Jobs and Skills Package.
The exit puts an end to at least six years of losses that Robinsons has chalked up against declining revenues.