06-Oct: LIFEBRANDZ Ltd, a Singapore-based operator of bars and nightclubs, said it is closing its Ministry of Sound outlet in the city-state's Clarke Quay area, Bloomberg reported on Monday.
The licensing agreement LifeBrandz held with UK-based Ministry of Sound International Ltd. 'was terminated according to the terms' of the contract, the company said in a statement on Monday to the Singapore Exchange, without elaborating.
Operations at the Clarke Quay club ceased on Monday, according to the statement.
LifeBrandz will file a claim against Ministry of Sound International in Singapore's High Court, the statement said. No reason was given for the court action.
The company plans to 'redevelop the premises' into another entertainment area different from Ministry of Sound, said the Bloomberg report.
Two industry insiders told my paper that the barely-three-year-old superclub would be closed for rennovations and reopen with a brand-new concept and a new name.
A veteran DJ said he had been informed that the 40,000 sq ft venue at Clarke Quay would sport a band-cum-DJ concept in its next life, said my paper.
LifeBrandz is a Singapore mainboard-listed company that also runs The Balcony bar at The Heeren and a Cafe del Mar franchise in Sentosa.
It shut down its molecular gastronomy restaurant Aurum and its Italian eatery bice in May and June respectively. In August, restaurant-bar Barfly was taken over by Lunar, which LifeBrandz still runs.
Source: StraitsTimes.com
vested, this Co. has written off a lot of intangible assets over these years, developed brands in order to dispose them, it is getting quite crappy now. Chef Edward was heading Aurum in the past, don't know where is he now ...