Former Lifebrandz, Autagco, exits F&B business as it shuts last Superfood Kitchen outlet
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SINGAPORE: Autagco, the company formerly known as Lifebrandz, has closed its last Superfood Kitchen outlet, which once had three outlets in the city-state, and will fully exit the food and beverage business, The Edge Singapore reported.
The company said in an announcement on Sunday (Aug 31) that it will be closing its Raffles City outlet after it could not reach “mutually acceptable terms” with its landlord for a lease renewal.
The outlet closed the same day as both parties agreed to terminate the lease. The premises will be handed back to the landlord on Sep 11, with Autagco set to incur around S$15,000 in handover costs.
This followed the closure of its Jurong Point outlet on July 28, with Autagco incurring about S$11,000 in costs. According to the company, the outlet, which launched in late 2022, faced “persistent operational challenges”, including rising food and manpower costs and weak sales, leading to continued losses.
On the company’s website, a third outlet at Changi Airport had been listed as “permanently closed”.
Autagco said it had looked for a buyer for the “Superfood” master franchise, but no deal was made.
With new executive chairman Ng Boon Hui now leading Autagco, the company is aiming to expand into the private assisted living business. /TISG