Angmoh Chap Huay Tiam At Dempsey Goes Bankrupt!!!

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An honorable member of the Coffee Shop Has Just Posted the Following:

Dear brothers and sisters,

this shows that Singapore cost is too high and even expats find the food expensive!!!!

SINGAPORE (Business Times) - Things have gone further south for Jones the Grocer Singapore (JTG), three months after the gourmet grocer from Down Under assured that it was business as usual. The Singapore arm of the Louis Vuitton-backed Australian gourmet cafe and retail chain has been placed under judicial management, and its assets are now up for public sale. When contacted, a manager from PriceWaterhouseCoopers, the appointed judicial manager for Singapore-registered Jones The Grocer International Pte Ltd, said that bids will close on May 22, with a view to a completion of the sale by late June. There is no minimum sum for bids. In the meantime, JTG's outlets on Dempsey Hill and in the Mandarin Gallery will continue trading as usual. The assets up for sale include the two Singapore outlets at 6,200 square feet and 2,200 sq ft respectively, its current payroll of staff, and its existing kitchen, bar and retail inventory. Buyers also have the option to purchase the Singapore franchise rights from its Australia-registered counterpart, Jones the Grocer IP Pty Ltd. - See more at: http://www.straitstimes.com/news/bus....EXkpCbs3.dpuf


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