Singapore's 1880 club shuts down, 2 weeks after demise of Hong Kong branch
Private club 1880 in Singapore has abruptly closed down, two weeks after its cash-strapped Hong Kong branch folded, with its founder citing falling attendance and decreased spending by members for its demise, the Post has learned.
In a letter sent to members on Monday at midnight and seen by the Post, founder Marc Nicolson said its local premises, located in InterContinental Singapore Robertson Quay, would be shutting down with immediate effect.
He also revealed the club's holding company 38 Degrees and operating company 1880 Pte Ltd had been placed into provisional liquidation.
Nicolson said in the letter that building 1880 had been a 'dream come true', but 'spending and frequency per visit of our members has been trending down'.
He added that he was grateful and sorry to the club's board, staff and members, and told members not to visit the club's premises as 'the doors will be locked'.
Nicolson said he had received three offers to invest in or acquire the club, and 'any one of these would have restored us to health and given a runway to building a global brand'.
But he had ultimately been 'unsuccessful in getting those offers over the line' and was left without further funds to pay staff and suppliers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
3 days ago
- South China Morning Post
In China, ‘bridge-builder' Singapore champions a multilateral world
A marquee visit by Singapore Prime Minister Lawrence Wong to China this week has underscored a push by Southeast Asian countries for multilateralism amid uncertainty over America's commitment to the region and free trade. Observers say Wong's comments during his five-day trip, particularly at the World Economic Forum in Tianjin, or so-called Summer Davos, are aligned with the regional agenda of Asean members in recent years. But even as Chinese President Xi Jinping called for his country and Singapore to 'stand on the right side of history' and advocate for an equal multipolar world, analysts say it remains to be seen if Beijing will put its money where its mouth is. Wong's China visit marked his first such trip outside Southeast Asia since being sworn in as prime minister in May 2024. It also comes after the decisive win of his ruling party at the general election last month. At their meeting on Tuesday, Xi in his comments to Wong echoed his message to other Asean leaders earlier this year to stand up against 'unilateral bullying' and 'tariff abuse' in reference to US President Donald Trump 's trade policies. 'Hearing that straight from the senior-most leadership in China is somewhat reassuring, but of course the proof is in the pudding,' said Chin-Hao Huang, associate professor of political science at the Lee Kuan Yew School of Public Policy at the National University of Singapore.
South China Morning Post
3 days ago
- South China Morning Post
Chinese companies can spearhead a new wave of globalisation
At a recent Singapore conference on Chinese companies going global , I spoke on deglobalisation and the emerging contours of Globalisation 3.0. Perhaps more than ever, we need to look ahead to new ideas and concepts to tackle whatever the future holds. Advertisement When China started its reform and opening up in 1978, its economy, shaped by autarkic experience and self-reliance, was still 'in China for China'. In tapping world-changing market forces, the economy entered a period of 'in China for the world' as the country was recast as the world's factory. Increasingly complex value-adding industries lifted 800 million out of poverty and boosted the material wealth of our modern world. By 2020, China accounted for 35 per cent of the world's gross industrial output. Yet trade wars – which started in the first Trump administration in the United States – have once again realigned global dynamics. In today's world, it's no longer enough to do it better and more cheaply. Globalisation is entering a new era. Multipolarity is back. 'De-risking' and instability have seen companies face a new period of uncertainty and transformation. With the rise of trade barriers, tariffs and geopolitical fragmentation, Globalisation 3.0 will increasingly be digitally driven and regionally oriented. Chinese businesses urgently need to adjust their strategies and accelerate the pace at which they go global. Advertisement This means shifting from an export-driven growth model towards one characterised by a global presence, overseas investments and cross-border industrial coordination. In other words, we need a strategy for the Chinese economy to be 'in the world, for the world'. Chinese companies must go global, distributing their value chains and production systems across countries to serve international customers.
South China Morning Post
4 days ago
- South China Morning Post
Asean can ‘shape its own destiny' amid US-China rivalry: Singapore PM Wong
Southeast Asian countries can shape their own destiny amid the deepening US-China rivalry, and the region seeks to be an 'inclusive arena' where both powers are actively engaged, according to Singapore's prime minister Lawrence Wong , speaking on Wednesday at a dialogue as part of a World Economic Forum (WEF) meeting in Tianjin, said countries from the Association of Southeast Asian Nations (Asean) collectively made up a sizeable economy with 'considerable heft'. Asean has the ability to shape its own destiny, to shape its own future. Asean was the arena for proxy wars during the Cold War. We don't want that to happen again,' he told the meeting, more commonly known as Summer Davos. According to Wong, the regional bloc's approach to great power competition is clear: it rejects zero-sum competition and embraces engagement with the US, China and other powers. Southeast Asia counts the US as its biggest investor and China as its largest trading partner. 'We want both to be actively engaged. We want other major powers to be actively engaged. And we want the region to be an open and inclusive arena where people have stakes in … and we can all work together for shared prosperity,' he said.
