, Singapore

No Signboard places Danish Breweries into creditors’ voluntary liquidation

The company said its subsidiary has been having cash flow problems.

No Signboard Holdings has placed its wholly-owned wholly-owned subsidiary, Danish Breweries Pte Ltd, into creditors’ voluntary liquidation (CVL) as the beer distributor cannot “by reason of its liabilities continue its business.”

In a bourse filing, No Signboard said its subsidiary has been having cash flow problems and was unable to pay its debts, thus the move to place it in CVL.

Chan Yee Hong, licensed insolvency practitioner from Nexia TS Risk Advisory Pte. Ltd., has been appointed as the provisional liquidator for Danish Breweries. The subsidiary’s shareholders and creditors are expected to confirm his appointment at a creditors' meeting on 12 April 2022.

The CVL will "contribute positively" to its consolidated net tangible assets (NTA) and earnings per share of No Signboard and its subsidiaries for the current financial year ending on 30 September 2022.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!