Nine years after local casual wear company NewUrbanMale started, the company has closed down all its outlets here.
A check online showed that the company’s business licence has been terminated. Another company with the same name is still active.
In a 2010 interview with The Straits Times, company director Chua Shenzi (above) said he had taken a $500,000 loan in 2007.
He added that he lost about $750,000 because of the Asian financial crisis and also because he lost distributorship of the cult Brazilian slipper brand Havaianas to a Filipino distributor.