SINGAPORE: Cotton On Asia has been placed under members’ voluntary liquidation, according to a notice published in the Government Gazette on Monday (Mar 30).
This followed an extraordinary general meeting via a video teleconference call on Mar 25.
In a separate notice, creditors of the company have also been notified to submit details of any outstanding debts or claims.
Cotton On Asia is listed on the Accounting and Corporate Regulatory Authority website as a holding company and is “in liquidation”.
Meanwhile, another entity – Cotton On Singapore, is listed as a “live company” selling clothing for adults.
Cotton On operates five brands in Singapore – Cotton On, Cotton On Body, Cotton On Kids, Typo and Rubi. Its website listed over 30 stores in Singapore.
Cotton On Asia is part of the Cotton On Group, which was founded in Australia in 1991.
The group opened its first store in Singapore at Wisma Atria in 2007 and later established its Asia headquarters here in 2014 with over 90 team members.
According to the group’s website, it operates eight brands across 20 countries and 1,300 stores, employing about 20,000 people.
CNA has contacted the group for more information, including how the Singapore stores and the employees would be affected.
