Bakerzin restaurant has closed all of its outlets in Singapore, The Business Times reported.

It was founded by pastry chef Daniel Tay 22 years ago, in 1998.

Tay previously told Vulcan Post that it took him three years to break even after investing a large sum, although business did "really well".

The chef later sold the business in 2007, but managed it until 2013.

Even then, rising rental costs had already began to eat into the business' profits.

At its peak, Bakerzin had 10 outlets, including at central locations like Paragon and VivoCity.

Before its closure, however, the restaurant chain had dwindled to five outlets, namely United Square, Raffles Hospital, Wisma Atria, Serangoon Gardens, and Gardens by the Bay.

According to Business Times, Bakerzin has approached Gardens by the Bay regarding an early closure, as its lease would only end mid-2020.

A source also told the business daily that sales at Bakerzin had fallen 70 to 80 per cent during the circuit breaker period, which lasted from Apr. 7 to June 1.

Dining in, however, only resumed from June 19, but business reportedly still did not improve significantly.

Staff were let go to reduce the costs, although the number was not specified.

Business Times added that Bakerzin has been making losses since 2015.

For its financial year ending in June 2019, the brand made a S$5.8 million loss.

Over the years, its main menu has evolved a fair bit as well, although its signature desserts have been a mainstay.

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Top image via John Raphael De Guzman on Google Maps, Bakerzin's Facebook page