1880 founder Marc Nicholson files for bankruptcy; club’s brand sold to group behind Mandala Club

[SINGAPORE] The founder of private social club 1880 has filed for bankruptcy, even as the club’s brand and intellectual property (IP) were sold to Icon1c, a lifestyle group that includes Mandala Club.

An insolvency search by The Business Times found that Marc Nicholson, who started 1880 in 2017, applied for bankruptcy late last month, citing debts of S$1.5 million. His lawyer for the application is Adrian Wee, whose main areas of practice are in commercial and criminal litigation.

The club, which was located in Robertson Quay, suddenly closed on Jun 17 after running into financial troubles when it expanded to Hong Kong and Bali. A provisional list of creditors as at Jun 9 seen by BT shows that the club owes S$4.1 million to over 200 creditors, including landlord RB Corp, DBS, HSBC, suppliers and staff.

Meanwhile, Icon1c announced on Wednesday (Sep 3) that it had acquired the 1880 brand and IP, and is looking for a new location for the club. When asked if the group paid what was said to be a five-figure sum for the purchase, a spokesperson said the amount is “subject to confidentiality”.

In response to how long the plan to buy over 1880’s brand had been in the works, he said: “We have long admired the 1880 brand and community, and when the opportunity arose to continue its legacy, we moved quickly to make it happen.”

He added that the new 1880 will “carry forward the spirit of community and conversation that defined the original, while naturally evolving in its next chapter”.

As for rumours that Nicholson is involved in the revival of 1880, the spokesperson said: “Marc Nicholson has no role and no affiliation with Icon1c or the new 1880.”

Without divulging numbers, he said the group is “working closely with a number of advocates and former staff, helping us ensure the essence of 1880 is preserved as we prepare for the relaunch”.

Together with them, Icon1c has created an 1880 WhatsApp community to keep members engaged and connected. Through it, members will receive updates on monthly mixers, cultural events and collaborations and be the first to hear the latest concerning the upcoming club’s opening. There is also a dedicated community relationship manager to support members.

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“Access is complimentary and intended to keep the 1880 spirit alive, connected and inspired until a new home opens,” it said.

Icon1c is a luxury hospitality collective co-founded with entrepreneur Patrick Grove’s Kuala Lumpur-based tech company, Catcha Group. Apart from Mandala Club, Amber Lounge – known for holding after-parties that follow Formula 1 Grand Prix races – is another brand under the group.

The latest news follows several developments since 1880’s collapse.

In June, Mandala Club announced it had taken over a building next door to its premises at Bukit Pasoh Road and will spend S$2 million to expand its floor space by almost 50 per cent.

A few days later, BT reported that RB Corp and some 60-plus members of 1880’s staff will reopen a club at its former 22,000-square-foot premises under a new name. Former members, of which there are over 2,000, were invited to write in to join without paying a joining fee.

1880’s failure came after the abrupt closure of its Hong Kong branch on May 30, seven months after opening there. 1880 Hong Kong was said to have about HK$20 million (S$3.3 million) of debt, owing rent to landlord Swire Properties, payments to suppliers and wages to over 100 staff.