THE news came through a rather low-key general announcement on the Singapore Exchange late last month.

Founded by celebrity hairstylist Addy Lee, Monsoon Hairdressing group, which includes the well-known VS Monsoon hair salon, will be liquidated due to its liabilities. Monsoon is owned by Vintage Studio and M2 group – the latter a subsidiary of Catalist-listed beauty and wellness company, Mary Chia Holdings : 5OX 0%.

The voluntary liquidation is due to Monsoon’s “persistent inability to meet its financial obligations in a timely manner”, the filing read.