Singapore-based start-up Zilingo is set to enter liquidation, according to Bloomberg.
The board of the fashion technology start-up has appointed EY Corporate Services as its provisional liquidator, sources told the financial news service provider.
Its creditors Varde Partners and Indies Capital Partners have reportedly found a buyer for some of its assets and they have already been transferred to the new owner for an undisclosed purchase price.
When asked, Zilingo declined to give a comment to Bloomberg but major shareholders and creditors have reportedly been informed of the decision.
In response to an inquiry by local media CNA, Temasek said it declined to comment.
The is a technology and commerce platform founded in 2015 by Ankiti Bose and Dhruv Kapoor, and has operations spanning Indonesia, Hong Kong, Thailand, Philippines, Australia and the United States.
