By Kai Hsiang Chang and Ranjeetha Pakiam
(Bloomberg) -- Singapore’s famous China Club said it will shutter permanently after 19 years, citing stiff competition in the food and beverage industry, and escalating labor and operating costs.
“The club has been suffering losses for a few years and will no longer be able to remain financially viable,” General Manager Andrew Mah said in a statement on its website. “It is with deep regret that we will have to file for voluntary liquidation and close the club.”
The government last month ordered restaurants to switch to takeaways or deliveries, and halt on-site dining, under a national lockdown to curb the spread of the coronavirus.
Inaugurated in May 2001, the China Club offered traditional Chinese food and personalized services to members from the 52nd floor of a commercial tower in Singapore’s central business district, according to its website.
© 2020 Bloomberg L.P.