Singapore business closures hit 8-year high in 2025. More than 60,000 companies ceased operations despite strong GDP growth, revealing a stark disconnect between headline economic figures and ground-level business conditions. Wholesale trade, professional services, and information technology sectors led closures with nearly 10,000 each. Even traditionally resilient sectors like financial services and education recorded thousands of exits. Notable casualties included fashion retailer The Closet Lover after 17 years, cinema operator The Projector, and food brands Twelve Cupcakes and Gong Cha. The data underscores mounting operational pressures across all industries, from rising costs to intensifying competition and market uncertainties. No sector remains immune to current economic headwinds.
