SINGAPORE - Less than a year

after its official opening

This is the latest casualty in a series of farm closures and delays that have been plaguing the local farming sector since 2023 or so.

The Dutch firm – which produces baby leaves, salad mixes and microgreens – officially opened its 8,000 sq m indoor vertical farm in Changi in mid-November 2024.

According to a notice published in the Government Gazette on Nov 4, Growy is in provisional liquidation and the firm’s director Ramasamy Chockalingam wrote: “The Company cannot by reason of its liabilities continue its business”.

ST’s checks on the Accounting and Corporate Regulatory Authority (Acra) portal shows that the firm has been making losses since at least FY2022, and its losses more than doubled from $2.17 million in 2023 to $5.5 million in 2024. The firm was incorporated in 2019.

Growy has appointed staff from audit and advisory firm KPMG Services as its provisional liquidators, according to another gazette posting on Nov 4.

Provisional liquidators typically preserve the company’s assets and maintain its operations until a decision on the company’s future is made.

News of the farm’s closure comes as Singapore on

Nov 4 announced that it will be scrapping its original farming target

Revised targets were set instead, ...