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Lo Hoi-ying

Emily Hung

Private club 1880 Singapore has abruptly closed down, two weeks after its cash-strapped Hong Kong branch folded, with its founder citing falling attendance and a decrease in spending by members.
In a letter sent to members on Monday at midnight and seen by the Post, founder Marc Nicholson said its local premises, located in the 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.
Nicholson said in the letter that building the 1880 brand had been a “dream come true”, but “spending and frequency per visit of our members have been trending down”.
He added that he was grateful to the club’s board, staff and members and sorry, and told patrons not to visit the premises as “the doors will be locked”.
Nicholson 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.
Nicholson said he was “solely to blame” for the failure of the club. “Call it hubris, arrogance, capitalism or stupidity,” he said.
The Post earlier found that 1880 Pte suffered negative earnings before interest and tax (EBIT) of S$342,400 (US$266,080) in the 2021 financial year.
Its EBIT in 2022 saw a positive level of S$817,200, before earnings dropped to S$11,680 a year later.
The company’s net profit margin was minus 4.99 per cent in 2023, compared with 1.07 per cent in 2022 and minus 12.26 per cent in 2021.
There was no material uncertainty relating to going concerns reported by auditors between 2021 and 2023.

The company later announced plans to expand to Hong Kong in 2024 and Bali in 2025.
The Hong Kong branch survived for nearly seven months, while the construction of the Bali branch was never completed and shut down late last year.
Two former employees previously told the Post that the aggressive expansion strategy had played an important role in the business’ downfall, dragging it into debt despite its strong membership base of more than 2,000 in Singapore.
The joining fee of the Singapore club was reportedly S$7,000, while the annual subscription fee cost S$2,000.
According to the club’s website, many events, such as health and wellness activities, a trivia night and a sharing session by a polar explorer, were scheduled for this month.
The Hong Kong branch announced its closure at the end of May after seven months in business.
Saddled with debts of about HK$20 million, the club’s demise left 100 employees without pay for two months, while some members were angered by sales made shortly before the closure. It also owed rent to its landlord, Swire Properties.
A creditors' meeting will be held on Friday.
Nicholson said earlier that all Hong Kong club members would receive a one-year membership at 1880 Singapore, giving them access to 80 reciprocal clubs under the worldwide Sonato network.
Ex-members of the Hong Kong club said they had not yet received any notice on whether their membership privileges with Sonato would continue.
Members were also offered a lifeline by Swire Properties, with joining fees waived for its club, The Refinery, operated by The Peninsula, and food and drink credits given.
Hong Kong’s customs and labour authorities are currently following up on alleged violations of the Trade Descriptions Ordinance and cases of unpaid employee wages, respectively.


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Hong Kong economy

Singapore’s 1880 club shuts down, 2 weeks after demise of Hong Kong branch

The original branch of private members’ club 1880 in Singapore has shut down, with its founder citing falling attendance and decreased revenue. Photo: Handout

The closure of the Hong Kong branch of 1880 has left 100 employees without pay for two months. Photo: InvestHK

1880 Hong Kong members offered alternative club, but ‘not what we signed up for’

Financial difficulties forced 1880 Hong Kong, located at Two Taikoo Place in Quarry Bay, to shut its doors on Friday last week. Photo: Handout

1880 Hong Kong has told members to contact The Refinery directly to accept the offer of full membership. Photo: Handout

Some members who paid for lifetime memberships at 1880 (pictured) are displeased with the offer of an alternative club. Photo: 1880

How can consumers avoid being burned after collapse of Singaporean 1880 club in Hong Kong?

Singaporean 1880 club in Hong Kong announced its abrupt closure on Friday. Photo: 1880

The sudden closure of 1880 Hong Kong club has left 100 employees without pay for two months. Photo: 1880

An individual membership at Hong Kong’s American Club costs HK$500,000. Photo: Dickson Lee

Hong Kong Golf Club in Fanling. Photo:  Dickson Lee

Hong Kong branch of Singaporean 1880 club in liquidation with HK$20 million debt

1880 Hong Kong club closed its doors after just seven months in operation. Photo: 1880

Two former employees have blamed the club’s closure on poor financial planning and governance. Photo: 1880

The club still owes staff members about HK$4 million in unpaid wages and around HK$15 million to suppliers and the landlord, according to a former employee. Photo: 1880

News

Hong Kong

Hong Kong Economy

Founder Marc Nicholson sends letter to members citing a fall in attendance and lower spending for closure of original branch in city state


Founder Marc Nicholson sends letter to members citing a fall in attendance and lower spending for closure of original branch in city state.


Singapore

Hong Kong society

Hong Kong workers and labour rights

Consumers