Flash Coffee owes creditors S$14.9 million including S$300,000 to employees

Launched in 2020, Flash Coffee, with its iconic yellow storefronts, also operates in other Asian markets such as Indonesia, Thailand and Hong Kong. In 2021, it had almost 30 outlets in Singapore.

News of the chain’s closure in Singapore emerged on Oct 12 when a TikTok video and photos posted on Google Maps showed a sign at its Jurong Point outlet that said its baristas were “on strike”.

“In light of several late salary payouts, this outlet will be closed indefinitely,” the sign read.

“Your Flash baristas islandwide deserve a conducive work environment. We thank you for these memories. Till next time, goodbye.”

Flash Coffee denied that its employees were on strike, telling CNA on Oct 13 that it had ceased operations at its Singapore stores a day earlier.

“Consequently, our baristas are not required to report to work,” it said.

The company had decided to do this in order to “further consolidate (its) future efforts and to double down on (its) most promising markets”.

Flash Coffee reportedly laid off employees across different markets, including Singapore, last November.

In May of this year, the company announced that it had raised US$50 million (S$68 million) in a financing round led by White Star Capital. 

At the time, it said the new funds would be used to reach group-level profitability.

DealStreetAsia had reported earlier in October that Flash Coffee was downsizing its operations.