Prive Group closes all its restaurants; Far East-backed Commonwealth Concepts takes over 2 outlets
The restaurant operator cites external market challenges and rising operational costs as reasons for closure
[SINGAPORE] The Prive Group abruptly announced the closure of all its restaurants on Monday (Sep 1).
In a message to its suppliers seen by The Business Times, Prive said two of their establishments, Chinese restaurant Empress and Prive ACM located at the Asian Civilisations Museum (ACM), will be taken over by Commonwealth Concepts (CWC) and Baker & Cook, respectively, from Sep 1.
The company said it will be appointing a professional independent financial adviser who “will be reaching out to suppliers directly”. It appealed to suppliers to extend their support to the new operators.
Checks by BT on Monday (Sep 1) found no record of winding-up orders filed against Prive Group and its wholly owned subsidiary Prive Concepts as at noon.
In a statement on Instagram, Prive said it chose to close its outlets due to a combination of external market challenges and rising operational costs.
“We remain hopeful for the future of the F&B (food and beverage) industry in Singapore, and encourage you to continue supporting the incredible home-grown brands that make our culinary scene so unique.”
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Shuttered outlets, bolted doors
When BT visited the Chijmes outlet on Monday afternoon, staff at a neighbouring restaurant said the store has been closed for around a month.
At the ACM outlet, most doors were closed and bolted with locks. Staff from Commonwealth Capital were inside the shop, but declined to speak to BT.
Meanwhile, Empress – located at the same compound – appeared to still be operating. The restaurant’s manager, who declined to be named, only said that the restaurant will be open for dinner and its focus now is delivering good service to customers.
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Empress said in an Instagram post on Aug 31 that its operations team will not be changing, and that the restaurant remains open for visitors to the museum and the public. BT has reached out to Commonwealth Capital for comment.
Over at the group’s first outlet at Keppel Bay, the shop area it previously occupied was entirely covered up, with signs of the restaurant’s presence already removed. Staff at the marina said Prive vacated the area around two weeks ago.
Prive has been besieged by a string of restaurant closures before the latest development.
Its 313@somerset Prive outlet was repossessed by landlord Lendlease in early 2025. Cheryl Goh, general manager of 313@somerset, said: “We understand that some businesses and sectors have been affected by societal shifts caused by the pandemic, resulting in recovery challenges.”
She added that the former Prive unit has been taken over by a new F&B concept that will offer Western cuisine. The space is now undergoing a fitting-out.
BT understands that the new tenant is 5:59+ Cafe & Bistro, which also has an outlet in Chengdu, China. The bistro serves fusion dishes such as Sichuan hotpot-style tomahawk steak, Kungfu Panda Beef Wellington and Panda Cheesecake.
Other Prive outlets at Jewel Changi Airport, Paragon, Kent Ridge, Chijmes, Katong, Tiong Bahru, Robertson Quay and Keppel Bay also shut down earlier.
Prior to the company’s closure, the remaining operating outlets were at Holland Village, Botanic Gardens and Wheelock Place.
CWC was formed in 2021 through a joint venture with Singapore-based investment company Commonwealth Capital and Far East Organization’s food and beverage arm, Refinery Concepts. CWC owns 12 brands, including Baker & Cook as well as Fat Cow and Bedrock Bar & Grill.
Brian Stampe, chief operating officer of CWC, said: “In collaboration with ACM, CWC has been handed over operations of the Empress and former Prive ACM units.”
“We will continue to fulfil the prior event bookings made with Empress, as well as Prive ACM. We would like to assure everyone that there will be no disruptions in service,” he added.
CWC is not involved with other Prive locations outside of ACM, and the former Prive unit at ACM will be converted into a Baker & Cook outlet and will reopen on Sep 4, Stampe said.
There has been a slew of food and beverage businesses shutting down in Singapore in the past few years as the number of closures hit a 20-year high in 2024.
There were 3,047 F&B business closures last year; in the first quarter of this year, there were more than 300 closures each month on average.
The closures include several well-known brands such as American chain Eggslut, which closed its last outlet in Singapore in early 2025, and Haidilao, which shuttered three restaurants in Bedok, Pasir Ris and Punggol. Burger & Lobster, the London-based chain, has also ceased Singapore operations.
Local restaurants such as Superfood Kitchen and popular Muslim-owned omakase restaurant The Social Outcast have also shut down, citing rising operating costs, challenging business environments, and the lack of manpower for their closure.
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