Singapore members club 1880's staff In bid to revive firm: BT
(Bloomberg) – The staff of Singapore private members club 1880 have made an offer to buy the club's assets with the backing of its landlord RB Corp, a member of RB Capital Group, according to The Business Times.
The consortium has made an offer to buy 1880's assets, the newspaper said, citing one unnamed source.
1880's local business in Singapore was profitable, but the club had got into debt after its aggressive expansion into Hong Kong and Bali: BTT
The Hong Kong outlet closed on May 30; the Bali outlet, a six-floor beachside hotel, never opened.
The bid to revive 1880 will exclude any involvement from the three co-founders, Marc Nicholson, his wife Jean Low, as well as Luke Jones.
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