SINGAPORE (Azat TV) – Nanyang Optical, a home-grown Singaporean eyecare chain with a 65-year history, is undergoing voluntary liquidation, a move that has left customers with outstanding orders facing significant uncertainty. The company informed clients on January 28, 2026, of its decision, impacting individuals like Karen, 45, whose S$1,800 contact lens order placed in December 2025 is now in limbo with no clear path to fulfilment or refund. The liquidation process will see four of its six stores close, while a meeting of creditors is scheduled for February 13, 2026, to appoint liquidators.
The unexpected announcement marks the end of an era for a brand established in 1960, highlighting the increasing pressures faced by traditional brick-and-mortar retailers in Singapore’s evolving market.
The Liquidation Process and its Immediate Impact
Nanyang Optical’s managing director, Bernard Yang, confirmed to The Business Times that the company’s directors concluded that an “orderly wind-up under a formal process was the most responsible course of action” after reviewing the operational outlook and long-term viability. This voluntary liquidation aims to conclude the company’s affairs in a transparent manner, rather than prolonging uncertainty.
As part of the process, four directly operated stores are set to close: Northpoint City, Kovan, Parkway Parade, and the sister brand Alexis Eyewear Boutique at Wisma Atria. However, two franchised stores located at Junction 8 and The Clementi Mall will continue to operate independently and are unaffected by the liquidation. A notice filed in the government gazette confirmed the February 13, 2026, meeting for the formal appointment of liquidators.
For customers with unfulfilled prepaid orders, the situation is particularly precarious. They are typically considered unsecured creditors in a liquidation process, meaning refunds are not guaranteed and their claims are prioritized after secured creditors and employees. This has led to considerable anxiety among those who have made significant purchases.
Customer Concerns Mount Amid Uncertainty
The immediate impact of the liquidation has been acutely felt by long-time customers like Karen, who spoke to Mothership. She placed an order for a year’s supply of contact lenses on December 23, 2025, expecting it to be fulfilled within four weeks. After checking on her order on January 22, she received a WhatsApp message on January 28 from Nanyang Optical informing her of the liquidation.
The message acknowledged her outstanding order and requested her to wait another month, stating the company would “try to fulfil” the order. However, Karen’s attempts to contact the company via a provided number went unanswered. “I need to know if I should be ordering a new batch as well, or if my money is already lost,” she stated, emphasizing the lack of clarity on potential refunds. She expressed hope that by sharing her experience, other customers would be alerted to exercise caution.
Decades of Operation End for Home-Grown Brand
Nanyang Optical’s journey began in the 1950s as a lens grinding workshop in Geylang, formally establishing itself in 1960. For 65 years, it has been a recognizable name in Singapore’s eyecare retail landscape. The closure of its directly operated stores represents a significant shift in the local retail sector, marking the departure of a long-standing establishment.
This decision follows a period of financial strain for the company. In June 2025, Mr. Yang had previously discussed the challenges with CNA, citing sluggish sales, escalating rents, and other operational costs. These pressures led to difficult choices, such as downsizing its Marine Parade outlet by nearly half and cutting part-time staff hours. In September 2025, the company closed its Causeway Point outlet after a 12 to 13 percent increase in monthly rent proved unsustainable.
Industry Pressures and Shifting Consumer Habits
The struggles of Nanyang Optical are indicative of broader trends affecting traditional retail. Mr. Yang had noted that consumer spending habits have shifted, with an increasing comfort among customers to purchase spectacles overseas and through e-commerce platforms. This digital migration, combined with the persistent rise in commercial rents, creates a challenging environment for physical retail outlets.
While Nanyang Optical had previously indicated intentions to focus on growing its e-commerce platform and adopting a “hybrid retail” model, these efforts ultimately did not prevent the need for liquidation. The company had also faced manpower shortages, evidenced by a December social media post stating its Stars of Kovan outlet would serve customers by appointment only.
The voluntary liquidation of Nanyang Optical underscores the intense competitive pressures and structural changes impacting traditional retail businesses in 2026. The company’s inability to adapt sufficiently to rising operational costs and evolving consumer preferences, particularly the shift towards online purchasing, serves as a stark reminder of the ongoing challenges for long-established brick-and-mortar brands in maintaining viability in a rapidly transforming market.