Founded in 1998, Bakerzin describes itself as "one of Singapore's most popular artisanal dessert cafes".
The Business Times reported today (Oct. 9) that it has closed all five stores across the island, marking its exit in Singapore.
According to BT, it has asked Gardens By The Bay to cease outlet operations there early, although the lease should run until mid-2021.
Bakerzin has not made a statement about this closure on its Facebook page (the last post was dated September 30th) and its website is no longer operational.
Earlier this Monday (October 5), Bakerzin also announced a creditors' meeting for the purpose of liquidation.
Bakerzin had annual sales of S $ 14 million
Bakerzin was founded by award-winning pastry chef Daniel Tay, who currently owns the Cat & The Fiddle cheesecake shop and the traditional cake and cake shop Old Seng Choong.
It was formerly known as Baker & # 39; s Inn before being renamed Bakerzin in 2004.
Photo credit: traveling-foodies.com
It started out as a pastry shop and café that aims to fill a gap in the market. Back then, good desserts were only served in hotels, so Tay wanted to build an F&B brand that served good, yet affordable desserts.
In a previous interview with Vulcan Post, Tay shared that business was doing really well, with annual sales of between S $ 13 million and S $ 14 million.
However, rising rents reduced profits and sales were no longer sufficient to cover rents.
He sold Bakerzin in 2007, but made it to the end of 2013.
Selected image source: Gardens by the Bay