Prive group put up for sale more than a year before closure; no takers in tough market

THE Prive group, which suddenly announced the closure of all its restaurants on Monday (Sep 1), had been on the market for over a year but failed to find any takers in a troubled F&B industry.

Group chairman Yuan Oeij said: “We (did) our best to ensure the continuity of our business and speak with interested parties – whether investors or partners – to explore different options.

“However, given the extremely tough climate for the F&B industry, everyone has been taking a very cautious stance.”