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(ST Photo: Timothy David)
Once a familiar name in many Singapore shopping malls, with more than 20 outlets here at its peak, home-grown hardware chain Home-Fix will be shutting its last store in the country by the end of the week (15 Dec).
With about $19.8 million in liabilities on its books, the company will undergo debt restructuring, although its e-commerce site will remain operational for now.
Amid changing industry conditions and an uncertain economy, several other household names such as Sasa, DFS, MPH bookstores, Crabtree and Evelyn, and Forever 21 have also elected to close some, if not all, of their brick-and-mortar shops here, either as a result of bankruptcy or a shift in business strategies.
Written by Clement Yong for The Straits Times.