Jones the Grocer chalks up close to S$20m in liabilities

Singapore

JONES the Grocer's (JTG) Singapore arm has accumulated almost S$20 million in total liabilities, but creditors are likely to recover only a fraction of sale proceeds even if a buyer for the business is found.

The Dempsey Hill and Mandarin Gallery outlets of the Australian gourmet grocer are now up for sale after Singapore-registered Jones The Grocer International Pte Ltd was found to be insolvent and placed under judicial management on March 16.