The closure of Thambi magazine store after 80 years was met with shock and sadness. But is it unrealistic to expect heritage businesses to survive in a competitive, ever-changing world? Steven Chia and Crispina Robert speak to Singapore University of Social Sciences' Dr Lye Kit Ying and Edmond Wong, a third-generation business owner of Kim Choo Kueh Chang.

Editor's Note: This episode of Deep Dive has been edited to remove an incorrect reference to how much is available in the transformation grant for heritage businesses. The cap is S$40,000. We apologise for the error.