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.