LifeBrandz takes over hot nightspots Mink and Royal Room in new deal
Published on Mar 4, 2013 4:00 PM
Nightlife group LifeBrandz will be taking over the operations of popular nightspots Mink and Royal Room at Pan Pacific Singapore, in a new deal that sees lifestyle management agency Massive Collective becoming a major shareholder in the public-listed LifeBrandz.
The deal, announced today, could be a boon for LifeBrandz, a company that has been in the red and has seen a number of its venues, including Zirca and Yello Jello, close in the past two years.
For the financial year ending 2012, the group posted a loss of $4.4 million.
In a press release, LifeBrandz said it had entered a business collaboration with Massive, giving the latter a 14.05 per cent stake in the group valued at $3.48 million.
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