Source from StraitsTimes Interactive
Sigh is this really caused by the bad economy?THE One.99 Shop, which won its owner several awards including Woman Entrepreneur of the Year 2000, has called it quits after a massive expansion programme left it deep in debt.
A hit with bargain hunters, the One.99 chain has been placed under receivership. -- THOMAS WHITE
The budget chain, which spawned many copycats since it started in 1997, was placed under receivership by DBS Bank on Monday for failing to repay $1.7 million in debts. It owes other creditors another $1.3 million.
Personally I have never bought anything from One.99 shop before. I wonder if the things there are really cheap. Any loyal customer of One.99 shop from CS?