Imagine getting a million ringgit worth of your business’s inventory stolen in just moments. That exact thing reportedly happened to Joven Neo, owner of local streetwear store STEALPLUG, who recently shared the devastating experience on social media.
Late last week, Joven took to Instagram to share an unfortunate announcement regarding his store. According to the entrepreneur, STEALPLUG recently suffered a significant loss after a man stole approximately RM1 million worth of inventory. The man in question is an individual Joven hired to move the store’s inventory from their office and warehouse. However, while moving the items, the man allegedly fled, taking with him the store’s inventory.
Joven noted that he had hired the man several times prior, but had never encountered such an issue. He also claimed that he tracked down an individual who worked for the man on the day of the incident, only to learn that the alleged thief had also scammed his employees out of their salaries. With no lead to the man’s whereabouts, Joven urged anyone with information or footage to reach out to him.
Unfortunately, Joven alleges that the stolen inventory consists of items that haven’t been paid for. As a result, he now purportedly owes his suppliers and cosigners upwards of RM1 million. In an effort to pay off the debt, the entrepreneur decides to sell off STEALPLUG’s remaining inventory and cease operations. According to the official announcement, the store will close down on 14th May 2026 (Thursday).
In conjunction with its sudden closure, the store is holding a final clearance at its Starhill location until its final day of operations. There will also be significant discounts on selected items, including sneakers, apparel, accessories and caps. The incident has since sparked widespread discussion and mixed reactions. While some expressed sympathy towards STEALPLUG and Joven for their loss, others questioned the veracity of the claims.
Nevertheless, we wish STEALPLUG and Joven all the best as they navigate this unfortunate incident. Let’s hope the store and its staff will be able to bounce back and return stronger after the significant loss.
