Just before the pandemic began, FJB had completed a restructuring exercise looking to a trendier future to bring the company back to profitability. There were some initial improvements.
Every event is a family affair with the Benjamin family, owners of local retail distribution company FJ Benjamin Holdings (FJB). At its results briefing on Aug 25, CEO Nash Benjamin and his nephew, COO Douglas Benjamin, talked over each other in a comfortable way that only family knows. The Benjamins showed their mastery of talking to the media too, keeping the mood casual and inviting but also engaging — the way they hope their brands will appeal to consumers.
As with all families, there are rough periods, and all the more so for those in business together. The Covid-19 pandemic was not kind to the fashion and lifestyle retailers. The previously mainboard-listed company was placed on the Singapore Exchange (SGX) watchlist due to pre-tax losses for more than three consecutive financial years and a market cap of less than $40 million.
