Over 3, 000 F&, B organizations in Singapore closed in 2024, the highest in about two years since 2005.
A , CNA report , shed light on the shutdown, which are mostly attributed to dwindling company amidst higher operating expenses.
“WE’RE AT THELANDLORD’S MERCY”
Wine RVLT, a wine club that will close in the middle of this year after its latest lease expires, is another example. It had been operating at Carpenter Street for about eight years, and it had trouble juggling higher fees with fewer buyers.
In an , Instagram post, the restaurant’s users announced that their company was” no more sustainable and we’ve decided to call it quits”.