Ministry of Food

Ministry of Food founder Lena Sim was declared bankrupt after owing over S$5.4 million in debts. She also faces charges from the IRA.

Star Sino also commenced a second bankruptcy application against Ms Sim in 2021. According to ST, Ms Sim stated in her application that she was not indebted to Star Sino at all, and that the creditor had tried to avoid the provisions of the Moneylenders Act by disbursing the money into her bank account. To stave off bankruptcy, Ms Sim applied to set aside the latest statutory demand in court. ST reports that Ms Sim had agreed to buy the chain for S$5.5 million but only paid S$700,00 of that amount. [The Straits Times (ST)](https://www.straitstimes.com/business/ministry-of-food-founder-declared-bankrupt-over-54-million-debt), the bankruptcy order against Ms Sim came after the court ordered her to [shut down MOF over owed debts in 2021](https://mustsharenews.com/ministry-of-food-close-down/). The founder of Ministry of Food (MOF) found that out the hard way as she was declared bankrupt recently.