While debt-ridden REDgroup Retail's businesses in Australia and New Zealand are under financial scrutiny and belt-tightening measures, Singapore operations are unaffected, say group spokesmen.
'REDgroup can confirm that Borders Singapore and Supanews Singapore have not been placed into voluntary administration. It is currently business as usual at Borders Singapore,' said a statement on Monday from REDgroup Retail, referring to both its book-selling business and news agency here.
The Singapore store's current status was confirmed by Mr Steve Sherman, a partner at recovery firm Ferrier Hodgson, which now controls REDgroup Retail's assets and is helping it find ways to pay creditors.
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