Newstead goes into liquidation

Singapore IT retailer Newstead Technlogies has gone into liquidation. Established in 1998 with its first outlet at Funan DigitalLife Mall, it was supposed to be the anchor tenant when the redeveloped mall re-opens next year.

It grew steadily over the years and in 2016, became the largest chain of Apple Premium Reseller in Singapore.

Many of its estimated 40 outlets, including those at Marina Square, Suntec City and Sim Lim Square, have reportedly closed their doors recently though some still remain open with employees taking it day by day.



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