‘Big collapse’ of F&B businesses in Singapore looms; landlords should slash rent like Jewel Changi Airport, say industry playersDining outlets on the fifth floor of Jewel Changi Airport. To support the livelihood of restaurant owners and employees, Jewel approached its tenants to give them a 50 per cent rebate on rent for two months. — TODAY pic
Respondents also said that measures to address wage and rental costs were their top two areas of concern. As rent makes up a high proportion of operational costs for restauranteurs, RAS is calling on landlords to be “socially responsible”. The association said that restaurants are starting to engage fewer part-time workers and some have even started asking full-time staff members to go on unpaid leave.
The Restaurant Association of Singapore told reporters at a press conference that it is appealing to landlords and the Ministry of Trade and Industry for support to tide through the slump during the Covid-19 outbreak. — TODAY pic As for the likely impact if landlords do not agree to reduce rents, Andrew Kwan, vice-president of the association, said that restaurant closures would be likely because it is “just untenable”.
Karma
opportunists speaking.
Possible only if bank understand this.. like waive 1 or 2 months... Landlord still need to pay monthly to bank. Late pay : interest.
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