F&B

Losing Money Since 2015: Emporium Shokuhin Rolls Down Its Shutters With Over $1M In Debt

Comprising of a live seafood market, in-house beef dry-ageing facility, gourmet grocer, and 10 restaurants under one premise, Emporium Shokuhin was a site of indulgence for Japanese food lovers.

However, this comes to an end with its closure at Marina Square, as the emporium has apparently been losing money since it opened in 2015.

According to The Straits Times, the F&B business has gone into a debt of more than $1 million, and its managing company Epicurean Concepts Marina Square filed for judicial management last week.

This would protect the company from creditors while it attempts to seek a new source of finances.

Emporium Shokuhin owes $930,000 in rent and electricity bills to its landlord, Marina Centre Holdings, who has repossessed the 34,000 square foot premise over the weekend.

The company was said to be paying $210,000 per month for rent.

Emporium Shokuhin would need to receive sufficient funds from new investors for any possibility of a new lease of life.

Featured Image Credit: Marina Square

 

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