Bugis Street second floor hit by wave of closures, tenants report 60% drop in revenue
The exodus of nearly 80 per cent of business owners from the second floor of Bugis Street has left it resembling a “ghost town”, with tenants reporting revenue drops of about 60 per cent.
A reader told Shin Min Daily News that many tenants on the second floor of the mall had gradually vacated, leaving the entire level eerily quiet, like a “ghost town”.
When reporters from Shin Min visited the mall, the first and third floors still housed a number of clothing shops and nail salons with steady foot traffic.
However, nearly 80 per cent of units on the second floor were shuttered, with metal gates pulled down and few visitors in sight. Shop assistants from remaining stores sat at their entrances, waiting for customers.
Out of almost 100 shops on the level, only about 20 remain in operation, most of which are located some distance away from escalators and staircases. Signs indicating that the stores were closed, along with contact numbers, were pasted outside some units.
One business owner, who declined to be named, said most of the closures involved tenants whose leases expired on March 31 — many of them reportedly chose not to renew due to poor business conditions.
“Business has been difficult. Compared to the past, foot traffic here has already declined significantly. Many tenants simply moved out once their leases ended, leaving only a handful of us behind,” the owner said.
‘Some days, fewer than 10 people come by’: Tenant
Another clothing retailer, who also declined to be named, said the departure of other tenants has discouraged shoppers from visiting the second floor, severely impacting their business, with revenue dropping by nearly 60 per cent.
“Many people come up, see that so many shops are closed, and assume the whole floor is empty. They don’t even walk further in. There was already little foot traffic before, but now it’s even worse. Some days, fewer than 10 people come by,” she said.
She added that she had recently renewed her lease with the mall management and is unable to relocate in the near term, hoping that the management will introduce measures to attract customers.
Ms Zhou (transliterated), 50, who has operated a clothing store on the second floor for nearly 16 years, said she has witnessed a steady decline in foot traffic over time.
She noted that she has gradually closed several of her outlets in the area over the past two years, with seven more shops deciding not to renew their leases this year.
Businesses forced to close early or slash prices
Ms Li (transliterated), who runs a clothing store on the first floor, said: “Since Chinese New Year, the crowd has dropped significantly. We now rely mainly on customers who visit on weekends and domestic helpers to sustain business.”
Another clothing retailer said shops previously stayed open until around 10pm, but now see hardly any customers after 7 or 8pm. “Sometimes we close as early as 9pm,” the retailer added.
Some tenants have also been forced to cut prices. “Items that used to sell for $25 are now discounted to $15,” one said.
Mall will be refreshed and revitalised: Bugis Street spokesperson
In response to Shin Min’s queries, a Bugis Street spokesperson said that the management is taking the opportunity to “refresh and revitalise this consolidated space into a more social and community-oriented destination”.
The representative emphasised a new “youth-focused” retail experience at the mall, building on past initiatives such as Resurrack’s vintage weekend market and Standard Photo Studio’s photobooth.
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