The article discusses the closure of F&B players in the last quarter of 2024, with some restaurant groups culling their fine-dining concepts and introducing more casual offerings to appeal to diners looking for options with lower price points.

In response to this trend, Mr Tan Hsien Wei, senior lecturer at Temasek Polytechnic’s School of Business, said how long this period of consolidation within the F&B industry lasts will depend on economic sentiment and people’s willingness to spend. 

The Straits Times © Singapore Press Holdings. Reproduced with permission.