SINGAPORE - The Robinsons' department store in Raffles City will stay open throughout the Christmas and New Year period next year although it has yet to officially announce its last day.
Meanwhile, it is giving bigger discounts this week for items in the cosmetics, toiletries, toys and electrical goods sections.
Robinsons' liquidators KordaMentha said on Monday (Dec 21): "We are not in a position to confirm the last day of operation yet as we do not want to prejudice the outcome of the sales campaign and, therefore, creditors' recoveries."
The Straits Times, however, understands that trading was extended after negotiations between the liquidators, landlords and other stakeholders.
"Through these negotiations, we have successfully agreed (on) terms that allow for an extension to trading on favourable terms, which will produce a more favourable result for unsecured creditors," said a KordaMentha spokesman.
Also, no commemorative events will be held to mark the Yuletide season, the spokesman added.
On Oct 30, Robinsons had announced the closure of its last two outlets in Singapore, saying the decision to liquidate was prompted by a range of factors, including changing consumer tastes and cost pressures like rent.
Its flagship store at The Heeren in Orchard Road shut its doors last Wednesday (Dec 16).
KordaMentha would have completed the realisation of Robinsons' assets when the Raffles City store is closed. Its last opening day will also be the last day of work for the store's sales staff.
A few back-office employees will be kept for a short period to attend to post-closing tasks.
"Our focus will turn to distributing the recoveries achieved to the unsecured creditors. We remain hopeful that we will be in a position to make this distribution by June 2021," said KordaMentha.