Spinelli

Singaporean YTC Hotels Singapore bought Spinelli Coffee Company, then dissolved it with over $11.5M in liabilities. Spinelli Coffee Co. founded in 1983 by Arnold Spinelli started as an inspiration by pioneer coffee roaster, Alfred Peet. Invested in the idea of diversifying YTC’s hospitality portfolio, in 1996, YTC entered a franchising agreement to bring the brand into Singapore. YTC Corporation is a local Singaporean hospitality and property group. More known for Singapore's Peninsula Wyndham hotel and a long history of varying investments. They opened Singapore's first Spinelli branch at The Heeren near Orchard Road in 1996 and eventually buying out the trade mark rights for Singapore in 2002 for an undisclosed amount. Later in 2023, $11.5M in liabilities and a negative cash flow of $165k. YTC announced a closure to all of its operating stores. Singapores consumer market was never forgiving, but in this case could it have also been its management?