EY Corporate Services Selected to Liquidate Zilingo

According to sources, Temasek-backed Singapore-based start-up Zilingo is about to go liquidate.

According to sources, the board of directors of the fashion technology start-up has appointed EY Corporate Services as its provisional liquidator.

Its creditors, Varde Partners and Indies Capital Partners are said to have found a buyer for some of its assets, which have already been transferred to the new owner for an undisclosed sum.

When contacted by sources, Zilingo declined to comment, but major shareholders and creditors were reportedly informed of the decision.

Ankiti Bose and Dhruv Kapoor founded Zilingo in 2015, and the company now has operations in Indonesia, Hong Kong, Thailand, the Philippines, Australia, and the United States. Sources said the company was planning to liquidate in January 2023.