Keong Saik Bakery to exit Jewel Changi ‘earlier than planned’, will close Oct 23
High visitor numbers do not always translate to strong sales, says founder and chief executive Tan Yuzhong
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[SINGAPORE] Keong Saik Bakery is pre-terminating its lease at Jewel Changi Airport after almost two years at the mall, with the outlet set to close on Oct 23.
Tan Yuzhong, founder and chief executive officer of the home-grown bakery, said in a LinkedIn post on Wednesday (Sep 24) that rising costs and intense competition have made survival in retail spaces more difficult.
“Even in places filled with bustling footfall, true sales don’t always match the crowd you see passing by,” he added.
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