Robinsons’ Raffles City store to stay open through to New Year
The Robinsons' department store in Raffles City will stay open throughout the Christmas and New Year period next year though it has yet to officially announce its last day.
Meanwhile, it is giving bigger discounts this week for items in the cosmetics, toiletries, toys and electrical goods sections.
Robinsons' liquidators KordaMentha said yesterday: "We are not in a position to confirm the last day of operation yet as we do not want to prejudice the outcome of the sales campaign and, therefore, creditors' recoveries."
The Straits Times understands that trading was extended after negotiations among the liquidators, landlords and other stakeholders.
"Through these negotiations, we have successfully agreed (on) terms that allow for an extension to trading on favourable terms, which will produce a more favourable result for unsecured creditors," said a KordaMentha spokesman.
No commemorative event will be held to mark the Yuletide season, the spokesman added.
On Oct 30, Robinsons announced the closure of its last two outlets in Singapore, saying the decision to liquidate was prompted by factors such as changing consumer tastes and cost pressures such as rent.
Its flagship store at The Heeren in Orchard Road shut its doors on Wednesday last week.
KordaMentha would have completed the realisation of Robinsons' assets when the Raffles City store is closed and marks the last day of work for the store's sales staff. A few back-office employees will be kept for a short period to attend to post-closing tasks. - THE STRAITS TIMES