{"id":598441,"date":"2026-08-28T08:32:28","date_gmt":"2026-08-28T08:32:28","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/598441\/"},"modified":"2026-08-28T08:32:28","modified_gmt":"2026-08-28T08:32:28","slug":"worlds-2nd-richest-country-records-2101-restaurant-closures-in-first-seven-months","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/598441\/","title":{"rendered":"World&#8217;s 2nd richest country records 2,101 restaurant closures in first seven months"},"content":{"rendered":"<p class=\"Normal\">Among the latest casualties are caf\u00e9 and bar Lou Shang that ceased operations on July 14.<\/p>\n<p class=\"Normal\">Industry insiders said since tourism rebounded after the Covid-19 pandemic and the Singapore dollar strengthened, more Singaporeans have chosen to spend school holidays and long weekends overseas rather than dining and shopping locally.<\/p>\n<p class=\"Normal\">Co-founder Matthias Phua of Pantler, known for its Japanese-French desserts, said the restaurant had faced the same challenges confronting many independent F&amp;B operators, including rising operating costs and high rents, The Straits Times reported.<\/p>\n<p class=\"Normal\">Commercial rents in the Kampong Glam area, home to food stalls and coffee shops, have climbed sharply in recent years, with several Haji Lane tenants reporting increases from around S$3,000 (US$2,340) to nearly S$10,000 a month, Channel News Asia reported.<\/p>\n<p class=\"Normal\">However, many other restaurants continue to open. According to data from the ACRA, 2,594 new F&amp;B businesses were registered in the first seven months.<\/p>\n<p class=\"Normal\">Recent openings include several Japanese brands, such as hamburger steak restaurant Hikiniku To Come and yakitori chain Torikizoku, as well as Korean eateries Jiho Samgyetang SBCD and Bibim Deli.<\/p>\n<p class=\"Normal\">According to official statistics, 3,148 food businesses ceased operations in Singapore in 2025, up from 3,047 in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"Among the latest casualties are caf\u00e9 and bar Lou Shang that ceased operations on July 14. Industry insiders&hellip;\n","protected":false},"author":2,"featured_media":598442,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46,2711],"class_list":["post-598441","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel","tag-world"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/598441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=598441"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/598441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/598442"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=598441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=598441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=598441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}