Recently, the operator of Gallery & Co, the museum shop at the National Gallery Singapore (NGS), announced that it was pulling out of the business.

"[The] business volume cannot support our operating model despite our collective best efforts. We are hugely dependent on tourism and retail. With Covid-19, both sectors were severely impacted," said the company which goes by the name By AndCo Pte Ltd.

By AndCo also revealed that Gallery & Co, after more than four years of operation at NGS, is currently under liquidation.

Owed vendors money since Nov 2019

This piece of bad news has apparently rankled some vendors who supplied merchandise to the shop.

Local design label The Little Drom Store — which produces Singapore-inspired accessories — said that they have not been paid for goods sold since November 2019.

The amount they're owed? A hefty S$12,000.

In addition, the Little Drom Store said they have almost S$30,000 worth of goods sitting in the shop but they cannot access them.

Other unnamed vendors that The Straits Times spoke to also claimed that By AndCo defaulted on payments.

A creditors' meeting has been set up for August 13.

Consignment goods planned to be returned in week of August 24

In response to queries by Mothership, By AndCo's shareholders said that their first priority is to expedite the return of consignment goods to their rightful owners as soon as possible.

They also said that consignment suppliers had been informed, via email, that the return of consignment goods is being planned for the week of August 24.

"By AndCo has put together a team to fully assist the liquidator in the return of these goods which includes reviewing and checking the list of suppliers, stock take, tallying, categorising, documenting and packing these goods to be returned. This process will include consideration of safe management measures for the safety of the assisting team and for our consignment suppliers."

"Perun Consultants, which is handling the liquidation, will reach out individually to consignment suppliers once a return time-table has been developed," said By AndCo's shareholders.

The company also told Mothership that while the effects of Covid-19 on tourism was felt as early as January 2020, By AndCo sought ways to overcome the challengers instead of pulling out.

"By AndCo only decided to put the company into liquidation as soon as it became apparent that the situation was untenable, especially with no clear visibility to when tourism will recover."

By AndCo added that none of its shareholders ever received payments. salaries or share of profits.

According to the company, all profits went back into paying for operating expenses.

Top image via Gallery & Co/Facebook/