Singapore restaurant Dan's Steaks to close due to rising costs

Singaporean businessman and former radio DJ Daniel Ong is shutting down his restaurant, Dan's Steaks, in "just a few months," citing insurmountable rising costs. Ong, 50, announced the closure on social media Tuesday, stating that "the reality of running a restaurant has changed."

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the reality of running a restaurant has changed.

"Food costs continue to rise. Staff costs continue to rise. Rent continues to rise. With increasing competition all around us, it has become impossible to keep going sustainably," he explained. Dan's Steaks began as a home-based business during the pandemic before opening a physical location at Maju Avenue in 2021. While Ong expanded to three more outlets, they have all since closed, leaving the original Maju Avenue restaurant as the sole remaining branch.

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Food costs continue to rise. Staff costs continue to rise. Rent continues to rise. With increasing competition all around us, it has become impossible to keep going sustainably.

Before its closure, Ong invited customers to visit one last time and enjoy their favorite dishes. Following an outpouring of public support and well-wishes, Ong provided an update, thanking customers and confirming the "few months" timeline. He expressed hope that business would pick up enough to help them "close with dignity" and clear a "six-figure debt" left from closing previous outlets.

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Before we say goodbye, we'd love to see as many familiar faces as possible. Come by one last time. Share a steak with your family. Order your favourite dish. Mine is the beef ragu pasta and the ribeye!

The restaurant will introduce "Dan's Disappearing Deals" and remove GST from menu prices starting August 1. Ong, who also co-founded the now-defunct cupcake chain Twelve Cupcakes, has had other F&B ventures like Rookery and Mischief, which have also since closed.

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I hope business picks up enough for us to pay a portion of what we owe and help us close with dignity.