Newstead set to sell NuBox stores to Apple reseller

Recently liquidated electronics retailer Newstead Technologies will sell its 10 Nubox stores.

The Singaporean firm was placed in liquidation in October after several of its stores abruptly closed and the sale agreement was reached on Friday. The confirmed buyer is Apple reseller Elush. The value of the sale remains undisclosed at this time.

All stores are expected to transition over to Elush by the end of next month.

A statement released by the firm read “In the interim, Newstead wishes to reassure customers and partners that it is still business as usual for all 10 NuBox outlets, and that the company will continue to honour all transactions and service commitments during this transition period”.

Newstead was recently promoted as the biggest IT anchor for the soon-opening Funan mall but that store is now under a cloud.

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