Tipsy Unicorn club in Sentosa closes after 3 years

Tipsy Unicorn, the club at Sentosa's Siloso Beach, has closed.

According to the bio on its Instagram account, the closure is temporary, but a notice on Sentosa's website states it is permanently closed.

As of Feb. 13, when Mothership tried making a reservation on Tipsy Unicorn's website, the system indicated there was no availability at the time.

Financial instability

Tipsy Unicorn, which opened in September 2023, was developed and run by Singapore hospitality group Tipsy Collective.

Tipsy Collective was co-founded by Derek Ong and David Gan.

Ong also served as the Group Chief Executive Officer until his death in August 2023.

According to his LinkedIn profile, Gan served as CEO from June to November 2024.

Not long after the Tipsy Unicorn was launched, Tipsy Collective came under the spotlight due to allegations of financial mismanagement that led to a legal battle over the control of the company.

The parties sued, which included investors and shareholders, claimed that the company owed about S$5.2 million in debt to suppliers, contractors, and creditors, The Straits Times reported.

They also said that the cost of developing Tipsy Unicorn overran its budget in 2023, doubling from S$3 million to S$6 million.

More than 100 employees also received their October 2024 salaries about a month late.

The group has significantly scaled down its operations from 13 outlets originally to five by 2025, according to ST.

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Top images from Tipsy Unicorn/Google Maps