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Flash Coffee in major consolidation amid Taiwan bankruptcy, sale of Thailand unit

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Claudia Chong &

Atelier Shen

Published Wed, Nov 22, 2023 · 07:58 PM
    • Flash Coffee is being wound up in Taiwan and Singapore, and has sold off its business in Thailand to focus on other markets, such as Indonesia.
    • Flash Coffee is being wound up in Taiwan and Singapore, and has sold off its business in Thailand to focus on other markets, such as Indonesia. PHOTO: BT FILE

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    FLASH Coffee has retreated from several markets, three years after it raised funding and started blitzscaling across Asia.

    The company has declared bankruptcy in Taiwan, citing challenges in paying off debt due to operational difficulties.

    Its Taiwan subsidiary owes at least NT$120 million (S$5.1 million) to its creditors, a court document seen by The Business Times showed. The application for bankruptcy there was filed on May 6.

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