The Business Times
business-time-50

Rocket Internet-backed Flash Coffee lays off staff across markets

google-preferred-sourceAdd BT as a preferred source
Claudia Chong

Claudia Chong

Published Tue, Nov 22, 2022 · 04:40 PM
    • Flash Coffee opens over 250 outlets across seven countries in two years after raising millions of dollars from investors.
    • Flash Coffee opens over 250 outlets across seven countries in two years after raising millions of dollars from investors. PHOTO: FLASH COFFEE

    FLASH Coffee, a coffee chain headquartered in Singapore and backed by venture capital, has become the latest startup to lay off staff amid a weakening economy. Retrenchments were made regionwide, including in Singapore and Indonesia, going by the LinkedIn posts of some former employees.

    The extent of the layoffs could not be determined. Flash Coffee did not respond to multiple requests from The Business Times for comment.

    Flash Coffee, known for its brightly coloured yellow and pink kiosks, is among the handful of coffee chain startups in Asia rapidly expanding on a “tech-enabled” formula made popular by Luckin Coffee and fuelled by venture capital.

    CoffeeTech layoffsStartups

    TRENDING NOW

    The company says the disputes do not cast significant doubt on its viability as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The deal for the sale of Scotts Square mall, just off Orchard Road, is said to be in the early stages of being worked out, at a price of about S$320 million.

    Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More