Robinsons set to close after 162 years
Another sad day on the high street.
There was a time when Robinsons was as to Singapore as gin was to a tonic but seemingly not for much longer as they announced late last week that they will be closing down for good.
The move follows six years of dwindling sales and profits despite its 126 year history in Singapore with the brand also winding down operations in Malaysia. While the news might come as a surprise for some, financial records paint an inevitable picture, noting losses after tax in 2015 of $17.4 Million and in 2018 of S$54.4 Million.
Speaking in a statement, Robinson & Co's General Manager, Danny Lim, said: "We regret this outcome today. Despite recent challenges in the industry, the Robinsons team continued to pursue the success of the brand. However, the changing consumer landscape makes it difficult for us to succeed over the long term and the Covid-19 pandemic has further exacerbated our challenges. We are grateful for the dedication of the team and for the support shown by our customers over the years."
While most shops will be closing their doors soon, The Heeren and Raffles City shopping centre will remain open longer for shoppers to take advantage of final sales.
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