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They played us for fools : Disgruntled vendors decry late, missing payments from Naiise

April 17, 2021 Naiise founder Dennis Tay has announced he is liquidating the company and filing for personal bankruptcy. The Straits Times SINGAPORE - Accusations of sob stories and delayed as well as missing payments are emerging from suppliers and partners of beleaguered retailer Naiise a day after founder Dennis Tay announced he was liquidating the company and filing for personal bankruptcy. Several brand owners took to social media to express frustration at how Mr Tay blamed Covid-19 for poor business and the company s undoing. Many said late and missing payments and mismanagement of funds have been a problem since as early as 2016, calling into question Tay s intentions.

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Vendors not buying Naiise founder Dennis Tay bankruptcy story, say money woes began since 2016

Vendors not buying Naiise founder Dennis Tay bankruptcy story, say money woes began since 2016
mothership.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mothership.sg Daily Mail and Mail on Sunday newspapers.

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Not so Naiise after all: Vendors voice anger at founder Dennis Tay and say rot began much earlier

. Read more at straitstimes.com.

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I m now out of time and options : Naiise founder files for bankruptcy as he winds up business

April 15, 2021 Naiise founder Dennis Tay said he had exhausted his savings and had also borrowed heavily from banks to keep the business afloat. Lianhe Zaobao and The Straits Times SINGAPORE - Multi-label retailer Naiise, once the biggest platform for local designers, is winding up. It stopped operations late Wednesday night (April 14), after years of payment delays to its vendors. In a Facebook post early Thursday morning, Naiise founder Dennis Tay announced the decision to liquidate the firm. It has been an extremely difficult two years, and the last few weeks have been the darkest of my life, he wrote. I cannot apologise enough to the brand partners whose trust I ve misplaced, and to whom monies are still due. I assure you all that the situation remains so because of an inability to pay, and not unwillingness.

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