Game over for Newstead, owes debt of more than $60 million including $1.6 million worth of staff salaries

[covertbriar]

本地电子产品零售商Newstead科技（Newstead Technologies）清盘，拖欠的债务超过6000万元。

Newstead科技成立于1998年，在高峰时期曾有超过40家店面。

More at https://tinyurI.com/y5v7mh87

 

[Narong Wongwan]

How does one run a company to the ground?
Obviously there’s fraud involved.
Knowing the business in not sustainable and yet conning your staff, suppliers, landlords etc etc

 

[LordElrond]

More to come? With most activities on mobile phone it’s not hard to imagine these huge floor space hardware sellers eating grass

 

[laksaboy]

It's the sign of the times, more and more people are buying electronic goods online.

The new Funan mall will be opened later this year, looks like it'll be some pretentious hipster shithole unlike the IT paradise it used to be known for.

Sim Lim Square was quite fun back in the day, many shops selling pirated CDs, and ground floor security guards informing the upper floors of any incoming raids so the shopkeepers could close shop and escape.

 

[maxxi]

How did it get to 60mil? hmmmmm..3 mil already red flag come out for SME

 

[maxxi]

Closed business Singapore

Au Petit Salute,
Newstead
MAD Museum
1.99 shop
20F SPECIALTY COFFEEHOUSE
2nd Chance
77Street,
7atenine
97,
A&W
AKB48 Shop Cafe Singapore
Addictions Cafe & Remedy Bar
Aeropostale
Ah Lo carrot cake,
Aldo
Ali Joo Fur
Alley cafe,
Alternative Bar,
Amici Authentic
Ananas cafe
Angel's Bistro.
Angie's the Choice
Anythingz Cafe Tyrwhitt Road
Anywhere
Aoyama Collaborative Chun Tin Road
Applebees
Aquanova,
Athletes Foot
Au Jardian
Au Printemps
Audacious Cakery
Aussino
Avalon
BROTH,
Babylon
Baci Italian Cafe.
Backyard@Dempsey
Bai Mai cafe.
Balaclava
Balcony in The Heeren
Banana Republic
Banquet
Bar None
Bar Stop
Bar and Restaurant,
Barcelona
Barfly by Buddha Bar,
Batterworks
Beanberry Cafe,
Beegurt
Beethoven Record House
Ben sherman
Bentley's Courtyard Cafe
Berwkwez Demsey
Best Fries Forever,
Bethesa Book Shop
Beyond The Vines,
Bice bistro,
Big O Cafe
Big Rooster
Big Splash,
Big books
Bikram Yoga
Billy Bomber's
Bistro Amigo,
Bistro One Zero Three,
Bistro Soori,
Blue Diamond Restaurant
Blue Heaven
Blue Mountain Cafe,
BlueOyster,
Bonta Italian Restaurant and Bar,
Bookaburra Books
Boon Lay Rajah
Borders
Borgata Trattoria Osteria
Borshch Steak House
Boy London
Brannigan's
Brewbaker's Kitchen & Bar
Bridge Cafe
Broaster Chicken,
Broun cafe
Buen Cafe
Butter Factory
Buttero,
CB2,
CE LA VI,
CLUB NOVA,
Cafe 18 (H K),
Cafe Epicurious,
Cafe 'D' Manila,
Cafe de Paradiso,
Cafe del Mar
Cafe Maison De The,
Califonia Lemon,
California Fitness
Canele patisserie,
Canto Disco,
Cantomusic,
Caprice,
Carrefour
Catalunya,
Caterpillar tractors
Cathay Rest
Celio
Centro
Champaigne yard
Cheers!
Cheesecake cafe
Chen Fu Ji Fried Rice ,
Chewy Junior
China II
Chinablack
Chinoiserie,
Chotto Matte
Chuangyi Publishing,
Chuck E Cheese
Ciel Patisserie [online only]
Cinda's Corner Cafe,
Circus Circus,
Clementi Bookshop,
Clinic,
Club 95,SkyBar,
Club Momo
Clubs/Night spots:
Cocconuts at Cocco Latte
Coffee Stars by Dao
Collaborative,
Color Me Mine
Comics Collection
Commune Bistro,
Computer Books(Bain St)
Computer Bookshop
Copper Singapore
Cost Plus
Covelli,
Creamier ice cream cafe
Criterion,
Cyberactive,
DEPARTMENT OF CAFFEINE -Duxton Road
DOSE! CAFE
Dada
Daimaru
Dairyfarm [HK]
De Burg
De La Creme -Siglap Drive
De'Pop Culture,
Denny's
Derma center
Diamond Health Centre
Dockers
Doggy Style Cafe
Dong Log Wee Cakeshop
Donut Empire,
Double O
Dr. Cafe Coffee Big [Big Aust Franchise]
Dream,
EMF Books
EPB Book shop
Eagle Piano
Econ Mini
Egg3 Cafe
Empire
Emporium Holdings
Esette,
Euro Asia
Europa Group
Eyefit
FIVE & DIME EATERY
Fancl
Fashion Bar,
Fat Cat Bistro
Fenix Room,
Fire Disco
First Pagen
Fish & Co glasshouse
Fitzpatrick's
Five Star Tours
Flam
Flea Away
Fook Onn
Fordham & Grand
FrancFranc
Freshness Burger
Frozen,
Funzone,
GGB Bistro Demsey
GOD
Galeries Lafayette
Game Tokyo,
Garuda Indo Orchard central
Gattopardo
Gazer
Giftland
Gluck,
Go!Sub
Gold Leaf Twn porridge.
Golden Venus
Gramaphone
Grease,
Ground Zero
Growing Paints
Gurame Indo restaurant
Guy Savoy
HMV Records
Habitat
Hakku Kimisawa
Happy
Hardee's
Harris
Harry Ramsden
Heshe
Hogs Breath Cafe,
Holland & Barrett
Home club
Homestead
Honeycomb Bali Lane
Hopdog,
Hot Star Fried Chicken
Hot Stones
Hot Wrap crepe
Hua Nam Restaurant
IP Zone,
Indochine Waterfront
Inner Circle
International Sea Food.
Israda Silk
Italian Restaurant,
Iwannagohome
Ixi.z
Ixis
Jia Karaoke,
Jia Xiang
Jiv Jago Vegetarian Cafe
K-Mart
KILO AT PACT
KM8
Kacang Putih
Kaiming Enterprises
Kandi Bar by Hed Kandi,
Kandycrush
Kareshi Kanojo no Mise.
Keller Piano
Kerry's
Kheng Luck seafood
Kisses Bakery
Korean Ice dessert,
Kuriya Jap
Kwong Sia's music store
La Fondue
La Salsa
Lai Lai Beef Noodles
Laksamania
Lana Cake Shop,
Lane Crawford
Lao Ma at East Coast Lagoon
Laserfair,
Le Bistro,
Legend
Leisure bookshop
Liberty Coffee Cafe
Life Is Beautiful Kitchen & Bar
Lim's Art and Craft
Link Boutique
Loysel Toy -Kampong Bugis
LuLu
Lucky 13,Black Coffee Desset Bar
Lunar,
M)phosis,
MAY MAY
MEATLIQUOR
MONOCHROME FUSION BISTRO
MOS
MOX Bar & Cafe,
Mad Monk's Pub
Madam Wong's
Magma German Wine Bistro.
Maison De The Thomson V2
Make Fine Computer.
Malones Irish Restaurant and Bar
Mana Mana Beach club
Manolo Blanik
Marcella
Market 1 by Chef Wan
Marmota
Mayer
Mdm Wong,
Meds,
Meitesu
Metro Jaya
Mezzanotte,
Milanos
Mink & Royal Room
Miss Molly rainbow cake.
Mitsukoshi
Molton Brown
Monochrome Fusion Bistro -South Bridge Road
Mont'dor Cafe Bar
Moondance,
More Than Words
Mr Potato
Mrs Fields
Muffet Room
Murazen Book shop
Music World
NYDC
National Geo retail shop
Nature Republic
Nee Soon South cafe
New Look,
New Urban Male
New York,New York
Niche
Nuvo
Oca Grassa,
Ocean Pacific
Octogon,
Old Empire Gastro
Ong Records
Onyx
Orange gal,
Oriental
OshKosh B'gosh
Oso cafe restaurant,
Othello Cafe Bar
Oversea Restaurant
Paangea
Paco arcade
Padang Cafe
Pageone
Pamplemousse Bistro & Bar
Paper Market,
Parco,
Pasta Cafe,
Pebbles Bar,
Peppermint Park
Perlini's
Peyton Place,
Pie Face
Pie Kia
Pinacotheque de Paris
Play
Play house Rochester Cafe
Playhouse
Ponderosa
Pontini
Por Jai Authentic Thai Restaurant
Prima taste Ctr pt.
Prologue
Pub2,
Quaruba
Rainforest cafe
Rairua
Rakuten
Raoul,
Rascals
Raven Restaurant & Bar
Raw
Rebel,
Red House bakery
Reload @ RAV
River Island
Rotiboy
Roul Paragon
Rouse Dunlop Street
Royal Insignia Hyatt,
Rumors
S Travel
SG Flight Simulations
Sadhana Sanctuary
Saint Horner
Sam Hoagies
Sam Wick Aquariam
Sanur Indo restuarant
Sarawak Mee,
Scandals
Scissorshands
Seasons Bistro,
Second Change
Secret Hideout Cafe,
Sembawang Music
Seyui
Shabu Shabu
Shadows
Shakey Pizza
Shashlik
Shizahanzu,
Shogun Spa
Shop & Save
Sia Choon gaming
Silver Spoon
Simply mex
Sin Sin Chicken Rice
Singa Inn
Singjazz
Skillet Coffee
Skinny Pizza,
Skoob Books
Smoothie King [Established in 1973],
Snowy village
Sogo
Sorrel
Sour Sally,
South Asia Computer
Spanish Doughnuts,
Sparks
Spartacus
Sphere
St Honore Cake
Straits Rest
Stroke
Studebaker's
Stussy
Sugar
Suit Select,
Sultan Jazz Club
Sunny Book Shop
Superdog
Supermarkets:
Supreme Records
Swizzler
T.G.I. Fridays,
TGIF
THE FRENCH STALL
TMA Music
TS Video
Taco Bell [Market Cap US$35Bil,6500 outlets,200k staff.Singapore cannot make it]
Tai Chung
Tamper & Co
Tburu
TeaDot
Teapot @ Westgate
Teddy and Me
LuLu.
Terry's Shaw centre
That CD shop Great World City [finally]
The Alley Cafe,
The Box
The Dempsey Brasserie @ Dempsey
The Dispensary Tiong Bahru
The Ginviry,
The Ground Cafe & Bar,
The Hangar
The Holqa Cafe
The Immigrants [joo chiat]
The Kool Moose Cafe,
The Little Prince Cafe,
The Marshmallow Tree Cafe
The Orange Thimble,
The Orchard Store
The Orientalist,
The Royal Mail Restaurant & Bar
The Still Bar @ 22 Dempsey
This Fashion
Tivoli
Tokyu
Tonino Lamborghini Club
Tops
Towel Club
Tower Records
Trattoria Bonissima,
Treetops Bar,
Troika
Trung Nguyen Coffee
U2
Underwater World
Union Bay
V-club
VEGGIE COTTAGE
Valentine records
Veggie Cottage
Venom
Verve Bar & Bistro.
Victor Bowl
Video Eazy
Villagio,
Vincent's lounge,
Virgin,
Vulture
WOLF -Gemmil lane
Waterbar
Wednesday Cafe Tanjong Katong
Welcome
Wendy's
Wherelse
Why Not?
Wild Rocket
Wimpy's
Wishing Well Bar & Bistro.
Wizard of Oz
Wok & Barrel
Woodshed 204,
Woodstock
World Katong,
WyWy Wonderspace
Xanadu
Xpose Cafe,
Y Club
Yaohan
Yello Jello,
Yili Poa Pao Ice
Yokozo
Yoshimaru,
Yuyi
Zhen Zhuo Dao
Zircon Lounge.
barracuda,
batterworks
cafeTeapot @ Westgate,
comix connection
dbl-0
kki
mykonos,
odyssey,
shock,

 

[AhMeng]

When is PAP going to be in the above list?

 

[sweetiepie]

KNN better don't name with stead KNN not steady KNN homestead newstead up lorry and boustead once almost too KNN

 

[halsey02]

Those who had been wandering around Funan, since it was started, would remember Newstead. They started off as a small retailer.

 

[sweetiepie]

KNN ginfreely open business fated to close KNN see above list - mdm wong, virgin and The Ginviry KNN

 

[syed putra]

Which supplier gave them huge credit?

 

[jw5]

When 70% becomes 49%. Which is never.

When is PAP going to be in the above list?

 

[LordElrond]

Closed business Singapore

Au Petit Salute,
Newstead
MAD Museum
1.99 shop
20F SPECIALTY COFFEEHOUSE
2nd Chance
77Street,
7atenine
97,
A&W
AKB48 Shop Cafe Singapore
Addictions Cafe & Remedy Bar
Aeropostale
Ah Lo carrot cake,
Aldo
Ali Joo Fur
Alley cafe,
Alternative Bar,
Amici Authentic
Ananas cafe
Angel's Bistro.
Angie's the Choice
Anythingz Cafe Tyrwhitt Road
Anywhere
Aoyama Collaborative Chun Tin Road
Applebees
Aquanova,
Athletes Foot
Au Jardian
Au Printemps
Audacious Cakery
Aussino
Avalon
BROTH,
Babylon
Baci Italian Cafe.
Backyard@Dempsey
Bai Mai cafe.
Balaclava
Balcony in The Heeren
Banana Republic
Banquet
Bar None
Bar Stop
Bar and Restaurant,
Barcelona
Barfly by Buddha Bar,
Batterworks
Beanberry Cafe,
Beegurt
Beethoven Record House
Ben sherman
Bentley's Courtyard Cafe
Berwkwez Demsey
Best Fries Forever,
Bethesa Book Shop
Beyond The Vines,
Bice bistro,
Big O Cafe
Big Rooster
Big Splash,
Big books
Bikram Yoga
Billy Bomber's
Bistro Amigo,
Bistro One Zero Three,
Bistro Soori,
Blue Diamond Restaurant
Blue Heaven
Blue Mountain Cafe,
BlueOyster,
Bonta Italian Restaurant and Bar,
Bookaburra Books
Boon Lay Rajah
Borders
Borgata Trattoria Osteria
Borshch Steak House
Boy London
Brannigan's
Brewbaker's Kitchen & Bar
Bridge Cafe
Broaster Chicken,
Broun cafe
Buen Cafe
Butter Factory
Buttero,
CB2,
CE LA VI,
CLUB NOVA,
Cafe 18 (H K),
Cafe Epicurious,
Cafe 'D' Manila,
Cafe de Paradiso,
Cafe del Mar
Cafe Maison De The,
Califonia Lemon,
California Fitness
Canele patisserie,
Canto Disco,
Cantomusic,
Caprice,
Carrefour
Catalunya,
Caterpillar tractors
Cathay Rest
Celio
Centro
Champaigne yard
Cheers!
Cheesecake cafe
Chen Fu Ji Fried Rice ,
Chewy Junior
China II
Chinablack
Chinoiserie,
Chotto Matte
Chuangyi Publishing,
Chuck E Cheese
Ciel Patisserie [online only]
Cinda's Corner Cafe,
Circus Circus,
Clementi Bookshop,
Clinic,
Club 95,SkyBar,
Club Momo
Clubs/Night spots:
Cocconuts at Cocco Latte
Coffee Stars by Dao
Collaborative,
Color Me Mine
Comics Collection
Commune Bistro,
Computer Books(Bain St)
Computer Bookshop
Copper Singapore
Cost Plus
Covelli,
Creamier ice cream cafe
Criterion,
Cyberactive,
DEPARTMENT OF CAFFEINE -Duxton Road
DOSE! CAFE
Dada
Daimaru
Dairyfarm [HK]
De Burg
De La Creme -Siglap Drive
De'Pop Culture,
Denny's
Derma center
Diamond Health Centre
Dockers
Doggy Style Cafe
Dong Log Wee Cakeshop
Donut Empire,
Double O
Dr. Cafe Coffee Big [Big Aust Franchise]
Dream,
EMF Books
EPB Book shop
Eagle Piano
Econ Mini
Egg3 Cafe
Empire
Emporium Holdings
Esette,
Euro Asia
Europa Group
Eyefit
FIVE & DIME EATERY
Fancl
Fashion Bar,
Fat Cat Bistro
Fenix Room,
Fire Disco
First Pagen
Fish & Co glasshouse
Fitzpatrick's
Five Star Tours
Flam
Flea Away
Fook Onn
Fordham & Grand
FrancFranc
Freshness Burger
Frozen,
Funzone,
GGB Bistro Demsey
GOD
Galeries Lafayette
Game Tokyo,
Garuda Indo Orchard central
Gattopardo
Gazer
Giftland
Gluck,
Go!Sub
Gold Leaf Twn porridge.
Golden Venus
Gramaphone
Grease,
Ground Zero
Growing Paints
Gurame Indo restaurant
Guy Savoy
HMV Records
Habitat
Hakku Kimisawa
Happy
Hardee's
Harris
Harry Ramsden
Heshe
Hogs Breath Cafe,
Holland & Barrett
Home club
Homestead
Honeycomb Bali Lane
Hopdog,
Hot Star Fried Chicken
Hot Stones
Hot Wrap crepe
Hua Nam Restaurant
IP Zone,
Indochine Waterfront
Inner Circle
International Sea Food.
Israda Silk
Italian Restaurant,
Iwannagohome
Ixi.z
Ixis
Jia Karaoke,
Jia Xiang
Jiv Jago Vegetarian Cafe
K-Mart
KILO AT PACT
KM8
Kacang Putih
Kaiming Enterprises
Kandi Bar by Hed Kandi,
Kandycrush
Kareshi Kanojo no Mise.
Keller Piano
Kerry's
Kheng Luck seafood
Kisses Bakery
Korean Ice dessert,
Kuriya Jap
Kwong Sia's music store
La Fondue
La Salsa
Lai Lai Beef Noodles
Laksamania
Lana Cake Shop,
Lane Crawford
Lao Ma at East Coast Lagoon
Laserfair,
Le Bistro,
Legend
Leisure bookshop
Liberty Coffee Cafe
Life Is Beautiful Kitchen & Bar
Lim's Art and Craft
Link Boutique
Loysel Toy -Kampong Bugis
LuLu
Lucky 13,Black Coffee Desset Bar
Lunar,
M)phosis,
MAY MAY
MEATLIQUOR
MONOCHROME FUSION BISTRO
MOS
MOX Bar & Cafe,
Mad Monk's Pub
Madam Wong's
Magma German Wine Bistro.
Maison De The Thomson V2
Make Fine Computer.
Malones Irish Restaurant and Bar
Mana Mana Beach club
Manolo Blanik
Marcella
Market 1 by Chef Wan
Marmota
Mayer
Mdm Wong,
Meds,
Meitesu
Metro Jaya
Mezzanotte,
Milanos
Mink & Royal Room
Miss Molly rainbow cake.
Mitsukoshi
Molton Brown
Monochrome Fusion Bistro -South Bridge Road
Mont'dor Cafe Bar
Moondance,
More Than Words
Mr Potato
Mrs Fields
Muffet Room
Murazen Book shop
Music World
NYDC
National Geo retail shop
Nature Republic
Nee Soon South cafe
New Look,
New Urban Male
New York,New York
Niche
Nuvo
Oca Grassa,
Ocean Pacific
Octogon,
Old Empire Gastro
Ong Records
Onyx
Orange gal,
Oriental
OshKosh B'gosh
Oso cafe restaurant,
Othello Cafe Bar
Oversea Restaurant
Paangea
Paco arcade
Padang Cafe
Pageone
Pamplemousse Bistro & Bar
Paper Market,
Parco,
Pasta Cafe,
Pebbles Bar,
Peppermint Park
Perlini's
Peyton Place,
Pie Face
Pie Kia
Pinacotheque de Paris
Play
Play house Rochester Cafe
Playhouse
Ponderosa
Pontini
Por Jai Authentic Thai Restaurant
Prima taste Ctr pt.
Prologue
Pub2,
Quaruba
Rainforest cafe
Rairua
Rakuten
Raoul,
Rascals
Raven Restaurant & Bar
Raw
Rebel,
Red House bakery
Reload @ RAV
River Island
Rotiboy
Roul Paragon
Rouse Dunlop Street
Royal Insignia Hyatt,
Rumors
S Travel
SG Flight Simulations
Sadhana Sanctuary
Saint Horner
Sam Hoagies
Sam Wick Aquariam
Sanur Indo restuarant
Sarawak Mee,
Scandals
Scissorshands
Seasons Bistro,
Second Change
Secret Hideout Cafe,
Sembawang Music
Seyui
Shabu Shabu
Shadows
Shakey Pizza
Shashlik
Shizahanzu,
Shogun Spa
Shop & Save
Sia Choon gaming
Silver Spoon
Simply mex
Sin Sin Chicken Rice
Singa Inn
Singjazz
Skillet Coffee
Skinny Pizza,
Skoob Books
Smoothie King [Established in 1973],
Snowy village
Sogo
Sorrel
Sour Sally,
South Asia Computer
Spanish Doughnuts,
Sparks
Spartacus
Sphere
St Honore Cake
Straits Rest
Stroke
Studebaker's
Stussy
Sugar
Suit Select,
Sultan Jazz Club
Sunny Book Shop
Superdog
Supermarkets:
Supreme Records
Swizzler
T.G.I. Fridays,
TGIF
THE FRENCH STALL
TMA Music
TS Video
Taco Bell [Market Cap US$35Bil,6500 outlets,200k staff.Singapore cannot make it]
Tai Chung
Tamper & Co
Tburu
TeaDot
Teapot @ Westgate
Teddy and Me
LuLu.
Terry's Shaw centre
That CD shop Great World City [finally]
The Alley Cafe,
The Box
The Dempsey Brasserie @ Dempsey
The Dispensary Tiong Bahru
The Ginviry,
The Ground Cafe & Bar,
The Hangar
The Holqa Cafe
The Immigrants [joo chiat]
The Kool Moose Cafe,
The Little Prince Cafe,
The Marshmallow Tree Cafe
The Orange Thimble,
The Orchard Store
The Orientalist,
The Royal Mail Restaurant & Bar
The Still Bar @ 22 Dempsey
This Fashion
Tivoli
Tokyu
Tonino Lamborghini Club
Tops
Towel Club
Tower Records
Trattoria Bonissima,
Treetops Bar,
Troika
Trung Nguyen Coffee
U2
Underwater World
Union Bay
V-club
VEGGIE COTTAGE
Valentine records
Veggie Cottage
Venom
Verve Bar & Bistro.
Victor Bowl
Video Eazy
Villagio,
Vincent's lounge,
Virgin,
Vulture
WOLF -Gemmil lane
Waterbar
Wednesday Cafe Tanjong Katong
Welcome
Wendy's
Wherelse
Why Not?
Wild Rocket
Wimpy's
Wishing Well Bar & Bistro.
Wizard of Oz
Wok & Barrel
Woodshed 204,
Woodstock
World Katong,
WyWy Wonderspace
Xanadu
Xpose Cafe,
Y Club
Yaohan
Yello Jello,
Yili Poa Pao Ice
Yokozo
Yoshimaru,
Yuyi
Zhen Zhuo Dao
Zircon Lounge.
barracuda,
batterworks
cafeTeapot @ Westgate,
comix connection
dbl-0
kki
mykonos,
odyssey,
shock,

Nostalgia sia. Towers record - isn’t that where we read magazines for hours? Dbl-O, haha. Sembawang music bite the dust? Dint realise that. Don’t even talk about Yaohan, Sogo or Tokyu. Wasn’t there 2 different 1.99 chains bitching about each other? I remember the char Bor got Sim Wong Hoo to help. I wonder if he upz her... looks too nerdy to be capable of that. Too bad Olivia Lam is now old and fat otherwise she could get his help.

 

[laksaboy]

There was a Tower Records outlet on the upper floor of Suntec City mall, you wouldn't miss it as you made your way to the wing where Carrefour used to be.

This was before City Harvest Church's acquisition of the mall, before the Suntec logo change and the mall renovation.

 

[Froggy]

When 70% becomes 49%. Which is never.

I’m expecting 75% next round

 

[FuckOttoke]

HA HA !

ANOTHER ONE BITES THE DUST !

VIDEOPRO THAT SHITSHOP IS NEXT !

 

[laksaboy]

Gian png Sinkies, now is your chance to hunt for bargains.

Feb 17 (Sun) is the last day of Newstead's closing down sale.

https://mothership.sg/2019/02/newstead-closing-down-sale-liquidation-clearance/

Coincidentally, I believe Feb 17 is also the last day of operation for Vivocity's Giant supermarket. Should be some clearance sale over there as well.

 

[Leongsam]

You guys should thank your lucky stars that sammyboy.com and sbf.net.sg has managed to keep going despite the odds.

This is thanks to both you and I.

 

[eatshitndie]

new name cumming: bankrupt hub.

 

[maxsanic]

I don't think online shopping is the main reason. E-commerce is a global trend that affects nearly almost every b2c business and we are in fact seeing a reverse trend of many businesses which used to be 100% virtual now setting up physical retail outlets in a bid to amalgamate the offline and online customer experience.

Newstead's main competitor Challenger is doing very well with record profits year after year. Some of its earliest investors during the Sesdaq days are now sitting on big profits from share price appreciation and generous dividends.

It would make an interesting case study on how two companies that start out more or less the same time selling the same thing in the same market diverged so significantly over the years.