Flash Coffee shuts down Singapore outlets

Recall Flash Coffee, the speedy coffee-to-go chain? It's lights out for them in Singapore - all 11 outlets have shuttered.

• Buzz Brewing: Flash Coffee now navigates the stormy seas of provisional liquidation, meaning they're gathering resources to repay creditors and assess whether they can continue their operations.

• Trouble in the Grinder: Rumors of delayed payments and employee dissatisfaction have been brewing. The stir was further agitated by a TikTok video showcasing a 'we're on strike' sign at their Jurong Point outlet, allegedly due to late salary disbursements. However, the company's narrative is grounded differently.

• Company's Roast: Flash Coffee denies any strikes but confirms the cessation of operations across all their Singapore outlets. The company now focuses on its 'most promising markets'.

• Liquidation Dregs: BDO Singapore, the provisional liquidator, is wringing out as much as possible from the company's assets to settle debts.

• Future Brews: Despite the liquidation, Flash Coffee assures assistance to impacted team members with new opportunities, either in other markets or with other coffee chains. The Food, Drinks and Allied Workers Union (FDAWU) is aiding the affected employees in securing new employment and they’ve also stepped in to assist with salary-related disputes.

• Steaming Funds: In May, Flash Coffee, branding itself as a tech-enabled coffee chain, brewed a whopping $68M in funding with aims of achieving profitability, Asia-Pacific expansion, product innovation, and enhancing their stores' sales performance.

• Two-Year Blend: Launched in 2020, Flash Coffee enjoyed a robust run with nearly 250 stores and 1,400 employees across the region.

Despite the stumble in Singapore, Flash Coffee continues to run approximately 200 outlets globally. The company is concentrating on its 'most promising markets,' anticipating substantial growth.