Aspen to Place Subsidiaries Under Creditors' Voluntary Liquidation

MT Newswires
12 Jun

Aspen Group (SGX:1F3) will place wholly owned subsidiary Kanada-Ya SG and stepdown subsidiary Kanada-Ya Restaurants under creditors' voluntary liquidation, according to a Wednesday filing with the Singapore Exchange.

The decision was taken amidst challenging conditions in Singapore's food and beverage sectors, with the subsidiaries unable to continue their business due to liabilities, the filing said.

The liquidation will also help the company streamline its operations and focus on its core business segments.

Meanwhile, Neo Ban Chuan has been appointed as a provisional liquidator of the subsidiaries.

Shares of the company were down over 2% in recent trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10