The eyecare chain’s remaining two stores, which are under franchise arrangements, will continue operating and are unaffected
[SINGAPORE] Established home-grown eyecare chain Nanyang Optical plans to enter into voluntary liquidation after 65 years of operations, following a review of the business by its directors.
A meeting of Nanyang Optical’s creditors will be held on Feb 13 at 2.30 pm for the purpose of appointing liquidators, among other agenda, based on a notice filed on Monday (Jan 26) in the government gazette.
Four of its stores – which are directly operated by the company – will be wound up as part of the voluntary liquidation process, managing director Bernard Yang told The Business Times in response to queries.
Decoding…