Home-Fix gets Singapore High Court nod for debt restructuring

HOME-FIX will now undergo debt restructuring for the next six months, after financial woes pushed the home-improvement retail company to shutter all its retail stores in Singapore last month.

The High Court granted Home-Fix - represented by a team from Tan Kok Quan Partnership - judicial management in a hearing on Thursday. No creditors or other media were present at the court hearing.

In applying for judicial management, Tan Kok Quan Partnership sought to show that Home-Fix's business has the potential to be revived. Failing that, restructuring the company would also help to achieve a better realisation of the company's assets than if it were wound up, the lawyers argued.