Luxury marketplace Reebonz has reportedly caved under liabilities estimated to be around SG$65 million and according toThe Business Timeshas appointed a provisional liquidator to wind up the company. Co-founder Samuel Lim took out notices in BT on 10 September to alertcreditors that Reebonz is “in creditors’ voluntary liquidation”. Lim explained in the notice that Reebonz “cannot by reason of its liabilities continue its business”.
According to BT, Tee Wey Lih of Acres Advisory was brought on board to manage the company’s closure. Acres Advisory explained that the company’s liabilities are approximately SG$65 million with most of the exposure to financial institutions. A check by MARKETING-INTERACTIVE found that its website has been…
Read the full article at: https://www.marketing-interactive.com/reebonz-files-for-voluntary-liquidation-has-reported-liabilities-of-about-sg-65m
