Provisional liquidators of Robinsons, KordaMentha, released a notice on Nov. 18, revealing that over S$31 million in claims have been made against the department store by more than 400 creditors.
The creditors had previously been asked to submit proof of their debts to the provisional liquidators.
However, fine print on the provisional liquidators' notice says that the amounts detailed are not an admission of any claim and that the claims "remain subject to the formal adjudication process."
This means that some of the claims may be contested, rejected, or set off against debts that these creditors owe to Robinsons.
S$7.2 million owed to largest creditor
The largest debt of S$7,200,992.65 is claimed to Swee Cheng Holdings Pte Ltd, which The New Paper (TNP) reports is the landlord of Robinsons' Heeren outlet.
Another entry on the list is "potential employee claims", to the tune of S$4,377,698.39.
Two other million-dollar claims corresponded to "Lendlease Retail Investment 3", for S$4,203,423.86, and "HTSG A/C RCS Trust - RC" for S$4,221,223.01.
Meanwhile, the Comptroller of Goods and Services Tax has a claim for S$875,380.71.
Suppliers who made claims
A number of the claims appear to have been made by Robinsons' suppliers, including mattress suppliers Sealy, Serta, Simmons, and other companies:
- Chanel Pte Ltd: S$72,976.58
- Clarins Pte Ltd: S$111,117.61
- Elizabeth Arden SEA Pte Ltd: S$67,796.89
- Estee Lauder Cosmetics Pte Ltd: S$224,942.49
- Guess? Singapore Pte Ltd: S$23,531.36
- Le Creuset Singapore Pte Ltd: S$55,170.72
- L'oreal Singapore Pte Ltd: S$572,689.83
- LVMH Fragrances & Cosmetics: S$272.576.88
- Meyer Housewares (Singapore): S$39,734.02
- RSH (Singapore) Pte Ltd: S173,943.59
- Sealy Asia (S) Pte Ltd: S$56,590.58
- Serta International Pte Ltd: S$17,889.48
- Simmons (South-east Asia): S$35,556.23
- Triumph International: S$358,598.66
- Wacoal Singapore Pte Ltd: S$97,521.57
Liquidators to be formally appointed at creditors meeting
The Nov. 18 notice says that an online creditors meeting will take place on Thursday, November 26, and that creditors must register to attend.
Creditors may continue to submit proof of debts owed to them by Robinsons, and must do so by 4pm on November 25 in order to have voting rights at the meeting.
The meeting's agenda includes the creditors receiving a statement of the company's affairs together with a list of creditors and their estimated claim amounts, as well as making a resolution to formally appoint liquidators from KordaMentha.
The liquidators' role is to liquidate the assets of the company by seizing and selling them, and then distribute the proceeds among its creditors according to the law.
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Top photo by Syahindah Ishak