COVID-19 has definitely taken a toll on the world, especially in the food and beverage (F&B) industry.
Some of these F&B establishments fail to catch up with the latest technologies, such as using food delivery platforms. Many of them also lost a huge amount of revenue due to a drop in sales. In addition, they have to pay for accommodation for the Malaysian workers ever since the Malaysia-Singapore borders closed.
Here are some F&B restaurants which have closed down due to the pandemic, some of which are nostalgic.
Swee Kee Eating House (82 years of operation)
Image from Chinatown Singapore
The owners of Swee Kee Eating House suffered more than S$300,000 in losses while trying to keep sustain the business. However, to no avail, since the pandemic is still ongoing.
Bakerzin (22 years of operation)
Image from TodayOnline
Bakerzin seized its operations for its last 5 outlets due to huge losses. In June 2019, their losses amounted to S$5.8 million.
Antoinette (9 years of operation)
Image from Trip Advisor
As the shop was located at a prime location, they had to pay a high levy cost to continue operating. As such, it was difficult to afford and they had to close down.
Here are some restaurants which may close down, if the current situation does not improve.
Lai Wah (Operating for 58 years)
Image from TripAdvisor
Lai Wah’s revenue dipped to only S$300 when the Phase 2 (Heightened Alert) measures kicked in, a drop of more than 90 per cent from usual weekends.
They are considering getting a bridging enterprise loan but are unsure of how long they can last.
Red Star (Operating for 47 years)
Image from TripAdvisor
Red Star had recently partnered with food delivery apps as they felt that they had to keep up with technology. However, it did not help much as their monthly operating costs still stands at more than $100,000.
Should there be an ease in the heightened alert, these F&B establishments hope to have the support of customers to keep them going.