Local investor eyes acquisition of Singapore private club 1880 amid Hong Kong branch collapse
Source says Singapore club is viable, although landlord, suppliers are receiving only partial payments
[SINGAPORE] A local investor is looking into the potential acquisition of Singapore private club 1880, following the sudden closure of its Hong Kong branch last Friday (May 30) – just seven months after opening in the territory.
A source close to the matter told The Business Times that the potential buyer is “in the very early stages” of doing due diligence, and sees the Singapore club as “a viable and very decent” business. However, its ambitious expansion to Hong Kong has had an impact on the entire group.
1880 was founded in 2017 by Canadian entrepreneur, former adman and child actor Marc Nicholson, who has lived here since 2002. The club’s luxurious 22,000-square-foot space on the third level of InterContinental Singapore Robertson Quay was conceived by star British designer Timothy Oulton. Its name, 1880, refers to the decade Robertson Quay was founded.
TRENDING NOW
One-third of Singapore-listed firms at risk in severe AI downturn: MAS
‘Not done’: Keppel CEO Loh Chin Hua transformed the group, but says there’s ‘still a lot to do’
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
‘We don’t want to stay as we are’: CEO Patrick Ng builds a more resilient Huationg
