[SINGAPORE] Close to 100 creditors are owed slightly over S$1 million by shuttered confectionery chain Twelve Cupcakes, according to one of its appointed liquidators on Tuesday (Nov 25). The amount excludes the unpaid salaries owed to 80 former employees.
The company has entered full liquidation as of Nov 24, the liquidator AAG Corporate Advisory confirmed with The Straits Times. While a committee of inspection, which acts as a representative body for consults with the liquidators, was not appointed yesterday, volunteers are expected to come forward.
Twelve Cupcakes, which had about 20 outlets here, suddenly ceased operations on Oct 29. The Manpower Ministry then said it is investigating the firm, which is owned by Indian tea company…