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111 replies to this topic | 466 praises

#1

Posted 08 October 2018 - 09:51 PM

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After 19 years in the business, homegrown IT retailer Newstead goes into liquidation

 

 

SINGAPORE — Homegrown IT and electronics retailer Newstead Technologies is winding up its business after 19 years, and its troubles could leave Funan DigitalLife Mall without an anchor tenant when it reopens next year.

 

The company, which operates under the Newstead, DigitalStyle and Nubox brands, has been put under liquidation, according to a notice put up on the Accounting and Corporate Regulatory Authority (Acra) website last week.

 

https://www.todayonl...oes-liquidation


Edited by Blueray, 08 October 2018 - 09:51 PM.

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focus

#2

Posted 09 October 2018 - 12:06 AM

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#3

Posted 09 October 2018 - 01:50 AM

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SG retail scene seems very bad shape

Consumers are buying stuff online

Soon all shopping Malls got to close down liao

People are so lazy to go out

Even makan also delivered

Sibay jialuck
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#4

Posted 09 October 2018 - 04:15 AM

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SG retail scene seems very bad shape

Consumers are buying stuff online

Soon all shopping Malls got to close down liao

People are so lazy to go out

Even makan also delivered

Sibay jialuck

Eh is also coupled with I created by government regulation, economy is now not doing well and many other factors like increasing rental, rising electricity costs, rising labor cost, difficult to hire workers. So can not totally blame everything buy online. 1st thing 1st is further reduce regulatory requirements as much as possible so that retailers have easier time to comply and also to reduce business cost.

Edited by Yewheng, 09 October 2018 - 04:18 AM.

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#5

Posted 09 October 2018 - 07:21 AM

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It was considered our playground back in the mid late 80s. Funan centre was infested with rats, and u could literally spot rats walking around inside the ceiling at the food court ceiling lol. The smell of the building is always the same.

If u remember the retail shop Rambo TV games, then high 5 to u!
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#6

Posted 09 October 2018 - 07:34 AM

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SG retail scene seems very bad shape

Consumers are buying stuff online

Soon all shopping Malls got to close down liao

People are so lazy to go out

Even makan also delivered

Sibay jialuck

Happening in many cities around the world.
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#7

Posted 09 October 2018 - 08:09 AM

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You can see it coming..... I hope our non-mediocre multi-million dollar dream team can see it too....and not just focus on fixing opponents and insisting on minimum wage for themselves. 

 

SG retail scene seems very bad shape

Consumers are buying stuff online

Soon all shopping Malls got to close down liao

People are so lazy to go out

Even makan also delivered

Sibay jialuck

 


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#8

Posted 09 October 2018 - 08:11 AM

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opened a new thread for this

 

 

with online sales running brisk, this was doomed to happen


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#9

Posted 09 October 2018 - 08:13 AM

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Newstead over-stretched.... open so many large shiny retail stores.....

 

Hopefully Challenger is in better state.



#10

Posted 09 October 2018 - 08:20 AM

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You can see it coming..... I hope our non-mediocre multi-million dollar dream team can see it too....and not just focus on fixing opponents and insisting on minimum wage for themselves. 

 

you seem so fired up

 

why don't you join an alternative party and all MCF bros including sis come and vote for you

 

 

otherwise your talent is wasted here


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#11

Posted 09 October 2018 - 08:25 AM

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Previous anchor tenant at Funan was Challenger, did not know that Newstead was slated to be the new anchor tenant in the redeveloped mall.

 

For small IT items (eg thumbdrive, HDD, monitors), most of us already buy online. 

 

Bigger items like laptops etc, I personally find better deals at Courts, Best Denki etc when they run promos.


focus

#12

Posted 09 October 2018 - 08:53 AM

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Open wywy wonderspace

 Haha! The olden days claw machine is super easy.. I use to hog the machines at pasir ris chalet last time..

 

Who else remembers the yellow plush??


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#13

Posted 09 October 2018 - 08:55 AM

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Consumer IT is commoditized and margins are very low

Gone are the days where my DIY 486 DX2-66 cost me $3.5k with a 14" CRT 😆

Couple that with high rents from retail shops.. sure hard to survive.

Dump those retail REITs folks. Screw those property landlords!
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#14

Posted 09 October 2018 - 09:04 AM

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Closed down ah? Got any clearing sales for their laptop etc?  [:p]


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#15

Posted 09 October 2018 - 09:07 AM

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Closed down ah? Got any clearing sales for their laptop etc?  [:p]

 

creditors take all liao la...   


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#16

Posted 09 October 2018 - 09:13 AM

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Newstead over-stretched.... open so many large shiny retail stores.....

Hopefully Challenger is in better state.

Indeed, still recall they had a huge shop in Suntec City and multiple shops at Marina Square and always no one. Reckon those are the ones that sunk em

Challenger has a better strategy, they open on those neighbourhood Malls and sell their Valore house brand to boost profit (how good it is is anyone Guess). The casualness of challenger prob also attracts more people to go browsing there
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#17

Posted 09 October 2018 - 09:26 AM

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Indeed, still recall they had a huge shop in Suntec City and multiple shops at Marina Square and always no one. Reckon those are the ones that sunk em

Challenger has a better strategy, they open on those neighbourhood Malls and sell their Valore house brand to boost profit (how good it is is anyone Guess). The casualness of challenger prob also attracts more people to go browsing there

I used to buy laptop from them, and just recently my friend bought a laptop from them during the recent comex show.


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Clothe yourselves with compassion, kindness, humility, gentleness and patience.
Life is very fragile. Nobody knows what's gonna happen next.

#18

Posted 09 October 2018 - 09:32 AM

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from child booster seat, luggage, mobile phone...all brought online.

My wife just placed order for 3 bottles of moping detergent online.

what we cant buy online that still need yo make a trip down to the shop?🤔

#19

Posted 09 October 2018 - 09:39 AM

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Just imagine what happened to those bulky telephone directories and yellow pages ( a must have back then) also gone ..... another victim
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#20

Posted 09 October 2018 - 09:40 AM

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from child booster seat, luggage, mobile phone...all brought online.

My wife just placed order for 3 bottles of moping detergent online.

what we cant buy online that still need yo make a trip down to the shop?🤔

Can we buy car and house online?  [:p]


Clothe yourselves with compassion, kindness, humility, gentleness and patience.
Life is very fragile. Nobody knows what's gonna happen next.


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