SINGAPORE: Cotton On on Tuesday (Mar 31) said it had no plans to exit the Asia region after media reports on Monday said that it had been placed under members’ voluntary liquidation.
“There have been misleading media reports suggesting that Cotton On stores operating in Asia are being closed, this information is incorrect and we have no plans to exit the Asia region,” a company spokesperson said in response to CNA queries.
“Cotton On Asia Pte Ltd, the liquidated entity, does not and has never operated any stores or employed team members,” the spokesperson added.
The firm was an inactive holding company that was no longer required, Cotton On said in a statement.
