Singapore private club 1880 suddenly closes; founder says it has no funds to pay staff and suppliers, Lifestyle News
The club, located in Robertson Quay, explained the closure in e-mail and WhatsApp messages to members in the early hours of June 17. It said it could not secure several offers to invest in or acquire 1880, and has no funds to pay staff and suppliers.
The message, which was seen by The Straits Times, was signed off by Canadian founder Marc Nicholson. It said: "The club and all its operations will cease immediately. Please do not come to the premises as the doors will be locked."
Nicholson said in the message that the holding company 38 Degrees and the operating company 1880 Pte Ltd have been placed into provisional liquidation, and that details about the liquidation process and the creditors' meeting will be forthcoming.
The club comprised a co-working space, restaurant, bar and spa for members. It hosted trivia nights, forums and dialogues with personalities from diplomats to explorers and entrepreneurs.
Its closure follows the sudden closure of its Hong Kong branch on May 30, after less than seven months in operation. It was also building a property in Bali.
In the message, Nicholson said visitors had been spending less and going less often, adding that "the company needed an injection and some efficiency optimisation".
There were three offers to invest in or acquire 1880, he said. ST understands that potential investors included a sovereign wealth fund and a privately held real estate group.
"(Any one) of these would have restored us to health and given a runway to building a global brand. I was extremely excited believing in my heart that our future was secure and bright," Nicholson wrote.
"We were however unsuccessful in getting those offers over the line. With no further funds to pay our staff or suppliers we have no alternative but to close."
The message also alluded to the club's expansion efforts as contributing to its collapse.
Said Nicholson: "We created a brand that earned a reputation that brought opportunities for expansion that I could not resist.
"Call it hubris, arrogance, capitalism, or stupidity, I am solely to blame for the failure of 1880."
ST has contacted 1880 for comment.
As at June 16, it appeared to be business as usual at 1880, with the club still promoting events on its social media pages.
One of the club's founding members, Andrew Chan, said he was still getting updates for events that were two weeks away.
But he also said the writing was on the wall after 1880's biggest annual White Party was cancelled and its Hong Kong outlet was shuttered.
"In recent times being at the club, it was a lot quieter," said Chan, who runs a recruitment and professional training firm in the hospitality sector.
"But I'm not upset, it's just business, and F&B businesses are struggling... I've seen it firsthand as someone who works in the sector... I feel more for the staff of 1880, they were great people."
Ben Jones, co-founder of Mandala Club in Bukit Pasoh Road, which is another player on the scene, said: "The closure of 1880 marks a significant moment for Singapore's cultural and social scene."
Jones added: "As a fellow private members' club, we recognise the vision and effort it takes to create spaces that bring communities together in meaningful ways." He declined to comment on the specifics of 1880's business challenges.
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This article was first published in The Straits Times . Permission required for reproduction.
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