Tipsy Bird owes S$96K in debt, enters compulsory liquidation & closes Tipsy Unicorn

Tipsy Bird is owned by local hospitality group Tipsy Collective, which has faced years of legal disputes

Sentosa beach club Tipsy Unicorn has ceased operations after its operator was ordered into compulsory liquidation by the Singapore High Court.

According to a report by The Straits Times, the venue’s operator, Tipsy Bird, was wound up on Jan 23 this year after United Overseas Bank (UOB) filed a winding-up application. Court documents seen by the publication showed that the bank is seeking to recover more than S$96,000 in debt and interest.

However, liquidators shared that this may not represent the company’s full liabilities. Without the firm’s Statement of Affairs, they are unable to determine the total amount owed or how many creditors are affected. 

As of Feb 16, the company’s directors have yet to come forward to brief the liquidators on the firm’s financial affairs. 

The liquidators also noted that Tipsy Bird operated Tipsy Unicorn Beach Club at 36 Siloso Beach Walk. Following the winding-up order, the landlord of the premises, Sentosa Development Corporation (SDC), exercised its right to repossess the property.

Speaking to The Straits Times, SDC confirmed that the beach club ceased operations on Jan 30, adding that it is in discussions with potential operators to introduce refreshed lifestyle concepts at the site over time. 

When the publication visited the venue on Feb 18, the outlet was shuttered, with a notice at the entrance stating it had stopped operations from Jan 30. Its Instagram page was also marked as “temporarily closed,” and checks by Vulcan Post on Feb 20 showed that reservations were no longer available on its website.

Closure follows years of legal disputes

Corporate records show Tipsy Bird is wholly owned by local hospitality group Tipsy Collective, which remains an active entity as of Feb 19. 

According to a Facebook post by the group, Tipsy Unicorn opened at Sentosa on Sept 1, 2023, and had been operating for about three years before its closure. 

The closure and court order come after years of legal disputes since the passing of co-founder Derek Ong in Aug 2023.

While the other co-founder, David Gan, remained involved in the business, concerns over financial mismanagement and a lack of transparency led shareholders to clash with him, including objections to the development of the Sentosa beach club.

The budget for this project reportedly doubled from S$3 million to S$6 million. Additional concerns included debts amounting to S$5.2 million owed to suppliers, contractors and creditors. Tipsy Collective also allegedly owed about S$1 million to SDC.

Following the dispute, Gan was dismissed on Nov 6, 2024. But trouble did not stop brewing.

In Nov 2024, it was reported that more than 100 employees allegedly did not receive their Oct 2024 salaries. They were eventually paid in Jan 2025 after shareholders injected fresh funds. 

Further checks by Vulcan Post showed that Tipsy Collective’s website is no longer available, though their social media pages remained active.

Vulcan Post has reached out to Tipsy Collective and SDC for comment, but did not receive a response at the time of publication.

• Read more stories we’ve written on Singaporean businesses here.

Also Read: S’pore’s Tipsy Collective allegedly delayed paying October salaries amid legal dispute

Featured Image Credit: Tipsy Unicorn