SINGAPORE – Close to 100 creditors are owed slightly over $1 million by confectionery chain Twelve Cupcakes, according to one of its appointed liquidators from AAG Corporate Advisory on Nov 25.
unpaid salaries owed to 80 former employees
.
The company has entered full liquidation as of Nov 24, the liquidator confirmed with The Straits Times over a call. While a committee of inspection, which acts as a representative body for consultations with the liquidators, was not appointed on Nov 24, volunteers are expected to come forward.
In a presentation seen by ST, the highest amount is owed to Tee Yih Jia Food Manufacturing at about $196,000, while others included baking supplies provider Phoon Huat, market expansion services…