Holland Village's beloved indie cafe bar, Wala Wala Cafe Bar, is set to close its doors, marking the end of a three-decade era for the nightlife hotspot.

Owner Stanley Yeo shared with The Business Times that the lease for the 1,700 square feet ground floor space on Lorong Mambong is expiring this year. Yeo has obtained permission from the landlord for an early exit and is now seeking a new tenant to take over the space.

The closure of the restaurant will not be immediate and will depend on when a replacement tenant is found. Yeo mentioned that the earliest possible closure date would be at the end of August.

Yeo cited various reasons for the decision to close, including declining foot traffic, increasing operating costs, and a tough labor market. He mentioned that the current market conditions for the nightlife and food and beverage industries have been challenging, prompting the decision to move on.

Logistical challenges like road closures and changes in consumer behavior have contributed to the decline in footfall at Wala Wala. The closure of the neighborhood's main thoroughfares during certain hours has made it less convenient for customers and delivery partners, affecting repeat visits.

Generational shifts in preferences have also impacted the nightlife scene, with younger generations leaning towards digital leisure activities like online gaming. These factors have led to a decrease in Wala Wala's monthly foot traffic and revenue, resulting in the establishment operating at a loss for the past four years.

Rising rent costs and the inability to generate revenue from live performances during the pandemic have further added to the financial strain on Wala Wala. Despite efforts to adapt, the closure of the live music space on the second floor and the decline in sales following the loss of the upper-floor space have made it unsustainable to continue operations.

Wala Wala's challenges reflect the broader difficulties faced by Singapore's F&B and retail sectors. Other establishments in the Holland Village area have also closed recently, highlighting the tough market conditions.

While Yeo plans to stay in the F&B industry, his future plans are still uncertain. He expressed gratitude for the memories created at Wala Wala and the opportunity to support musicians over the years.

Despite the closures, efforts are underway to revitalize Holland Village and boost footfall in the area. Initiatives like a campaign with discounts and vouchers, as well as marquee events planned for the future, aim to attract visitors and breathe new life into the precinct.