Founded in 1998, Bakerzin describes itself as “one of Singapore’s most well-loved artisan dessert cafes”.
The Business Times reported today (October 9) that it has closed all five of its outlets islandwide, marking its exit in Singapore.
According to BT, it has requested Gardens By The Bay to prematurely cease its outlet operations there although its lease was supposed to run till mid-2021.
Bakerzin did not issue any statement on this closure on its Facebook page (its last post was dated on 30 September) and its website is no longer operational.
Earlier this Monday (October 5), Bakerzin also issued notice of a creditor’s meeting for the purpose of winding up.
Bakerzin Used To Rake In S$14M Annual Revenue
It was formerly known as Baker’s Inn before it was renamed to Bakerzin in 2004.
It started off as a patisserie-cafe that aims to fill a gap in the market. Back then, good desserts were only served in hotels so Tay wanted to build an F&B brand that serves good, yet affordable, desserts.
In a previous interview with Vulcan Post, Tay shared that the business did really well and the company’s annual turnover was approximately S$13 million to S$14 million.
However, increasing rentals began eating into profits and sales were no longer substantial enough to cover rentals.
He ended up selling Bakerzin in 2007, but managed it until end-2013.
Featured Image Credit: Gardens By The Bay