Ysc3 Twincharged July 8, 2020 Share July 8, 2020 Home-grown sports retailer Sportslink goes out of business Home-grown sports retail chain Sportslink wound up last Friday (July 3) after accumulating debts to a "substantial number" of creditors. This includes employees who are owed a month's salary, Farooq Mann, founder and director of Mann & Associates, the court-appointed liquidator, told The Straits Times. "I will convene a creditors' meeting within the next two weeks to notify them that the company has gone into liquidation, to disclose to them the affairs of the company, and to invite them to file claims," said Mr Mann on Monday. On June 9, Adidas Singapore Pte Ltd had filed an application with the High Court for the winding up of Sportslink. When contacted before Friday's decision, Adidas declined to comment. The news of Sportslink's liquidation comes barely two weeks after it announced its reopening in a June 22 Facebook post following the easing of circuit breaker measures on June 19. The measures, which were implemented to stop the spread of the coronavirus, saw retail stores across the country shut from April 7. Founded in 1983 by the late Mr Lim Kau Tee as Sports Interlink, a single store in Queensway Shopping Centre, the company was registered as a sole proprietorship four years later with the Accounting and Corporate Regulatory Authority (Acra) as Sportslink. Sports Link Pte Ltd (SLH) was later registered in 1994. Sportslink, which sold sporting goods and apparel from international brands, was a hit with heartlanders because of its reasonable pricing. It extended its reach to suburban malls in 1995 and by 2002, the chain had expanded its footprint to 11 outlets. This grew to 35 by 2015, by which time the company also boasted 190 employees. But in a Facebook post announcing its Chinese New Year operating hours on Jan 22, only nine outlets, including a factory outlet, were listed. In 2010, SLH also opened several speciality stores, such as Hoops Factory, which was the first basketball speciality store in Singapore. When ST visited Hoops Factory and Intersports - two brands under Sports Link Holdings' banner - at Queensway Shopping Centre on Wednesday, both stores were shuttered. Stocks of sports apparel were still stacked on shelves, and posters of sales of up to 50 per cent were plastered on the walls of the entrances. Mr Mann noted that all intellectual property assets of SHL such as these are also "being looked at". Former patron Trevor Sim said he used to visit Sportslink outlets "quite frequently" in the 2000s, but less so in the last 10 years. "It's sad to hear of a local brand going out of business," said the 42-year-old executive, who is an avid runner. "Sportslink used to be the go-to when you needed quality sports equipment at low prices, and at short notice, because they had so many outlets." "I don't know what caused them (to wind up) but perhaps people having so many more options now, especially online, could have contributed." ↡ Advertisement 1 1 Link to post Share on other sites More sharing options...
Lala81 Hypersonic July 8, 2020 Share July 8, 2020 Brooks brothers. https://www.cnbc.com/2020/07/08/brooks-brothers-files-for-bankruptcy-as-it-seeks-buyer-closes-stores.html?__source=androidappshare Link to post Share on other sites More sharing options...
Volvobrick Supersonic July 8, 2020 Share July 8, 2020 More to come. For every physical retail chain that goes bust, the online retailers get an additional boost! Link to post Share on other sites More sharing options...
13177 Supersonic July 8, 2020 Share July 8, 2020 Sports link also closed down due to covid! Omg. Link to post Share on other sites More sharing options...
Kangadrool Supersonic July 8, 2020 Share July 8, 2020 (edited) Everything conveniently blamed on covid-19 in order to save faces! Some of these businesses will shut whether covid-19 or not. Edited July 8, 2020 by Kangadrool 3 1 Link to post Share on other sites More sharing options...
Jusnel 6th Gear July 8, 2020 Share July 8, 2020 8 minutes ago, Kangadrool said: Everything conveniently blamed on covid-19 in order to save faces! Some of these businesses will shut whether covid-19 or not. Yeah. The Covid 19 was the last nail to hit the coffin Link to post Share on other sites More sharing options...
1fast1 Supersonic July 8, 2020 Share July 8, 2020 Sports link is an icon. I'm not much of an athlete (shaddup @RadX😂) but even I've gone there a few times to get stuff for myself and family. 2 Link to post Share on other sites More sharing options...
1fast1 Supersonic July 8, 2020 Share July 8, 2020 (edited) 14 minutes ago, Kangadrool said: Everything conveniently blamed on covid-19 in order to save faces! Some of these businesses will shut whether covid-19 or not. COVID-19 has definitely accelerated the process. Edited July 8, 2020 by Turboflat4 1 Link to post Share on other sites More sharing options...
Kangadrool Supersonic July 8, 2020 Share July 8, 2020 I stopped going there to buy socks after discovering e-mart with cheaper and better quality socks. This is the only SAF stuff I support. LOL. 3 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic July 8, 2020 Share July 8, 2020 5 minutes ago, Turboflat4 said: COVID-19 has definitely accelerated the process. covid is the stress test to phase out business that are not catching up 1 Link to post Share on other sites More sharing options...
1fast1 Supersonic July 8, 2020 Share July 8, 2020 2 minutes ago, Wt_know said: covid is the stress test to phase out business that are not catching up I think it's more businesses that simply have no reserves to fall back on. Brick and mortar businesses will be inordinately affected because they're still paying rent and payroll to a lot of people while their inventory rots on the shelves or in the warehouse. 3 Link to post Share on other sites More sharing options...
13177 Supersonic July 8, 2020 Share July 8, 2020 Just now, Kangadrool said: I stopped going there to buy socks after discovering e-mart with cheaper and better quality socks. This is the only SAF stuff I support. LOL. There are many things in e-mart not bad, can buy. But everytime when i pay at the cashier using cash, the person would be quite surprise how come i am not using credit? Lol. 1 Link to post Share on other sites More sharing options...
13177 Supersonic July 8, 2020 Share July 8, 2020 4 minutes ago, Wt_know said: covid is the stress test to phase out business that are not catching up Big big small small business also got affected by this covid. 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic July 8, 2020 Share July 8, 2020 3 minutes ago, 13177 said: Big big small small business also got affected by this covid. yeah ... it's also a bombshell that shaken all businesses to rethink their business model Link to post Share on other sites More sharing options...
mersaylee Supersonic July 8, 2020 Share July 8, 2020 Sportslink was good for badminton related stuff in terms of pricing and range. The string, grip wrap and shuttercock can easily be 20-30% cheaper than other shops. Even cheaper when the shop was having a sale event. 2 Link to post Share on other sites More sharing options...
Ysc3 Twincharged July 8, 2020 Author Share July 8, 2020 22 minutes ago, 13177 said: There are many things in e-mart not bad, can buy. But everytime when i pay at the cashier using cash, the person would be quite surprise how come i am not using credit? Lol. My ex-CO rec us the SAF bath towel and everyone went to get it immediately. Still using it now. 1 Link to post Share on other sites More sharing options...
Volvobrick Supersonic July 8, 2020 Share July 8, 2020 26 minutes ago, 13177 said: There are many things in e-mart not bad, can buy. But everytime when i pay at the cashier using cash, the person would be quite surprise how come i am not using credit? Lol. No more NSmen can buy the credit items like jogging shoes with cash 9r not? Link to post Share on other sites More sharing options...
ER-3682 Twincharged July 8, 2020 Share July 8, 2020 Home-Fix also Closed down. ↡ Advertisement Link to post Share on other sites More sharing options...
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