[SINGAPORE] Private members’ club 1880 suddenly announced its permanent closure effective Tuesday (Jun 17), with its holding company 38 Degrees and operating company 1880 Pte Ltd placed into provisional liquidation. This follows the sudden closure of its Hong Kong branch on May 30.
In an announcement to members, founder Marc Nicholson said the club and all its operations will cease immediately. “Please do not come to the premises as the doors will be locked”, he wrote.
Nicholson claimed that spend and frequency per visit of the club’s members has been trending down and that the company needed an injection and “some efficiency optimisation”.
“We had three offers to invest in or acquire 1880. Anyone of these would have…
