Umi Nami at Holland Village exits after seven years, owner cites high rent and burnout

Japanese restaurant Umi Nami has announced its closure in September, becoming the latest F&B outlet to exit Holland Village.

In an Instagram post on July 28, it thanked its customers for their support, and said that its menu and operating hours may change as the restaurant winds down.

Operating in the heart of Holland Village since 2017, the eatery is known for its affordable rice bowls offered at nett prices with no Goods and Services Tax (GST) or service charge.

Speaking to The New Paper, Umi Nami owner Valerie Tang cited high rent and burnout as key factors behind the decision to shutter the restaurant.

High rent and burnout among key factors

While Umi Nami had a "good run", Ms Tang, 44, said she was feeling burnt out, and closing the restaurant will allow her to prioritise her mental health.

In addition to high rental costs, she noted a decline in footfall following the opening of One Holland Village mall in 2023, which brought increased competition to the area.

Amid the current economic downturn, Ms Tang acknowledged the government's provision of CDC vouchers, but pointed out that they offer little support to businesses like hers, as the vouchers can only be used in F&B outlets in the heartlands.

More closures in Holland Village

Umi Nami's exit follows news of other long-time establishments shutting down in the area.

Crystal Jade La Mian Xiao Long Bao closed on 30 June after 20 years in Holland Village, while popular nightspot Wala Wala Cafe Bar may also exit before its lease ends in 2025, The Straits Times reported.

When asked about the shifts in customer habits or footfall over the past year, Ms Tang said "everything plays a part" for smaller players like Umi Nami. Such outlets struggle to adapt quickly to rising costs and rapid market changes, from evolving customer tastes and attitudes to increasingly fleeting attention spans.

Another challenge of running an affordable Japanese restaurant in an area like Holland Village, noted Ms Tang, is the constant entry of bigger players competing for an already limited slice of the pie.

On top of it all, Ms Tang's attempts to renegotiate the lease were unsuccessful.

'It's not because they failed'

Following Umi Nami's closure announcement on social media, a video by Khoo Keat Hwee, an F&B consultant and founder of now-shuttered Japanese chain Mentai-Ya, gained traction on TikTok.

In the video, which has garnered over 110,000 views and more than 150 comments as of press time, Mr Khoo lamented the recent Holland Village closures and the harsh realities of Singapore's F&B industry.

"Another heartfelt closure," the caption read. "Umi Nami at Holland V saying goodbye. This isn't failure, it's the reality of today's F&B."

Speaking to The New Paper, Mr Khoo, 38, described the current F&B climate as "nearly impossible" due to multiple factors like rising rentals, the manpower "crisis" and oversaturation.

"When I see good brands close, it's not because they failed. It's because the system failed them," said Mr Khoo.

He also pointed to broader economic pressures, citing Singapore's "sluggish" economy, reduced consumer spending, and a drop in expatriates as contributing factors.

"The opening of the RTS to Johor Bahru will only make this worse," he said, suggesting that more consumers might choose to dine across the border, where prices are lower.

"Footfall in lifestyle areas like Holland V is down, yet costs keep climbing. It's a slow bleed for many outlets right now," he said.

Since shuttering all his Mentai-Ya outlets, Mr Khoo now consults for a coffee shop in Pasir Ris and mentoring aspiring food-preneurs by helping them avoid the mistakes he once made.

"That's how I choose to give back and stay grounded in the real F&B trenches."