As reported yesterday, Spinelli, the coffee chain will be shutting the doors of its six remaining outlets by the end of 2023.
Spinelli Closing Its Six Remaining Outlets
Photo: SPINELLI COFFEE
The two outlets at the National University of Singapore’s (NUS) campus will be closing on Dec 15 while the branches at Changi Business Park and One Raffles Quay will be closing soon as well. The two remaining branches are at International Business Park and the Singtel Building in Pickering Street.
Image:@starmyhappyfoods (Instagram)
A Spinelli Joint, the sister brand of Spinelli has also shut down all of its outlets, including those at Aperia Mall, Galaxis, MYP Centre, and Ocean Financial Centre. According to Spinelli’s website, they have another operating local coffee brand, Brewing Kakis, located at Standard Chartered Bank in Changi Business Park Crescent.
Spinelli incurred losses from 2018 to 2022, according to filings seen by The Business Times. In 2022, the company reduced its losses, generating a revenue of $1.8 million, compared to $1.6 million the previous year. It recorded a net loss of $839,638 in 2022, down from a loss of $1 million in 2021.
Established in San Francisco in 1983, Spinelli Coffee set up its first store in Singapore in 1996 through a master franchise agreement with YTC Corporation, a company that owns hotels here and in Indonesia.
The news of Spinelli’s close comes shortly after Flash Coffee’s sudden closure in October as well.
Cover Photo: SPINELLI COFFEE, @starmyhappyfoods (Instagram)
For more news, Giordano Releasing Old Chang Kee-Themed T-Shirts, Tote Bags, Caps & More From Dec 1 To 31
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The post Coffee Chain Spinelli Officially Closing Its Six Remaining Outlets By End Of 2023 appeared first on Singapore Foodie.
