Zilingo board confirms winding up; appoints provisional liquidators

ZILINGO’S board on Monday (Jan 30) confirmed the fashion startup’s liquidation.

The board also stated that Aaron Loh Cheng Lee and Ee Meng Yen Angela from EY Corporate Advisors have been appointed Zilingo’s provisional liquidators.

In a separate statutory declaration filed on Jan 19, Zilingo’s board said the company is not able to continue business due to its liabilities. It added that meetings between Zilingo and its creditors would take place within a month of the declaration on Feb 10.

To recap, Singapore-based Zilingo, which provides digital services for e-commerce merchants, gained prominence after obtaining funding from the biggest names in venture capital including Singapore state investor Temasek and Sequoia.

It later fell into crisis following alleged financial irregularities, which led to a probe and the eventual dismissal of its high-profile co-founder and chief executive Ankiti Bose in May 2022, who has vowed to clear her name.