Naiise to close remaining store at Jewel Changi Airport amid financial issues
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HOMEGROWN retailer Naiise will close its Jewel Changi Airport store - its last and largest in Singapore - this Sunday, amid an ongoing struggle to pay its vendors.
It was reported in January last year that some brands had withdrawn their stocks from Naiise, which sells on a consignment basis, after being owed sums ranging from hundreds of dollars to five-digit figures. Some vendors told The Business Times (BT) that they are still waiting to be paid.
In response to queries from BT, Naiise founder Dennis Tay said the Covid-19 pandemic affected the business and its ability to pay vendors. "These claims happened before Covid-19 and (Naiise) never recovered from Covid-19."
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