Quick Read
- Nanyang Optical, a 65-year-old Singaporean eyecare chain, is undergoing voluntary liquidation.
- Four directly operated stores will close, while two franchised stores will continue independently.
- Customers with prepaid orders face uncertainty regarding fulfillment or refunds as unsecured creditors.
- A creditors’ meeting is set for February 13, 2026, to appoint liquidators.
- The decision follows sustained operational challenges, including rising rents and shifting consumer habits.
SINGAPORE (Azat TV) – Nanyang Optical, a Singaporean eyecare chain with a 65-year legacy, announced on January 28, 2026, its decision to undergo voluntary liquidation, leaving customers with outstanding prepaid orders in uncertainty and marking the end of an era for a prominent local brand. Four of its six directly operated stores are slated for closure, while a creditors’ meeting is scheduled for February 13, 2026, to formally appoint liquidators and address the company’s winding-up.
The unexpected announcement marks a significant shift for a brand established in 1960, underscoring the increasing pressures faced by traditional brick-and-mortar retailers in Singapore’s rapidly evolving market.
The Liquidation Process Takes Shape
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 on January 26, 2026, confirmed the February 13, 2026, meeting for the formal appointment of liquidators, among other agenda items, including the potential formation of a committee of inspection.
Mr. Yang stated that Nanyang Optical continued to “operate professionally” and serve customers up until the decision to wind up was made, expressing gratitude to employees, customers, and partners for their support over the years.
Customer Concerns and Unfulfilled Orders
The immediate impact of the liquidation has been acutely felt by long-time customers like Karen, 45, 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 waiting for four weeks with no update, Karen contacted the Northpoint City branch on January 22, which stated it would contact headquarters.
However, on January 28, Karen received a WhatsApp message 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. 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.
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.
Decades of Operation End for a 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, having operated 16 stores at its peak in 2017. 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 sustained 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 May 2025, the company closed its Causeway Point outlet after a 12 to 13 percent increase in monthly rent proved unsustainable, alongside weaker sales as more customers in Woodlands reportedly flocked to Johor Bahru for related products. Mr. Yang had instead chosen to open a store at Northpoint City in Yishun.
Broader Retail Challenges in Singapore
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 2025 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.