Lifebrandz is shutting down its food and beverage (F&B) establishments in Clarke Quay after its subsidiaries were unable to pay employees their salaries for the month of February.
The outlets which are ceasing operations are Aquanova, Fenix Room, Mulligan's Irish Pub, Playhouse and Hopdog.
This decision was made after a "strategic review" of the businesses, taking into account the challenges in the operating environment such as stiff competition, lower spend by patrons and restricted liquor licensing hours.
"The board has determined that the operations of the affected venues is presently not sustainable or commercially viable, and that the subsidiaries cannot continue as a going concern," said Lifebrandz in a release to the Singapore Exchange in response to media articles.
The management of Lifebrandz's subsidiaries have also met the Ministry of Manpower (MOM) to address complaints lodged by its employees. However, "there is presently no official outcome from the meeting with MOM", added Lifebrandz. "The company will be working with the employees to resolve the salary payment amicably."