--- title: "Beach club Tipsy Unicorn on Sentosa Island shuts down as court orders liquidation" description: "Beach club Tipsy Unicorn on Sentosa Island has closed following a court-ordered liquidation of its operator, Tipsy Bird, due to a debt of over SGD96,000 owed to United Overseas Bank. The High Court's " type: "news" locale: "en" url: "https://longbridge.com/en/news/276524134.md" published_at: "2026-02-22T02:27:28.000Z" --- # Beach club Tipsy Unicorn on Sentosa Island shuts down as court orders liquidation > Beach club Tipsy Unicorn on Sentosa Island has closed following a court-ordered liquidation of its operator, Tipsy Bird, due to a debt of over SGD96,000 owed to United Overseas Bank. The High Court's decision on January 23 led to the repossession of the premises by Sentosa Development Corporation. Despite a recent promotional event, the club ceased operations on January 30. Tipsy Bird, incorporated in 2018, faced financial difficulties and controversies, including the death of its co-founder in 2023. Development costs for the club doubled to SGD6 million, raising concerns about financial risks. On Jan 23, Justice Chionh Sze Chyi ordered privately held operator Tipsy Bird to be wound up following a winding-up application filed by United Overseas Bank. Tipsy Unicorn. Photo courtesy of Sentosa Development Corporation Court documents reviewed by *The Straits Times* show that UOB is seeking to recover more than SGD96,000 (US$76,000) in debt plus interest from Tipsy Bird. The liquidators indicated that this may not represent the company’s full liabilities. "The directors of the company have not come forward to apprise the liquidators of the affairs of the company," the liquidators said, adding that this remained the position as at Feb. 16. Tipsy Bird operated Tipsy Unicorn Beach Club at 36 Siloso Beach Walk. The liquidators added that the landlord, Sentosa Development Corporation, has since exercised its right to repossess the premises. The landlord confirmed on Feb. 19 that the club had ceased operations as of Jan. 30. "Sentosa Development Corporation remains committed to curating a diverse mix of beach and lifestyle concepts on Sentosa and is in discussions with potential operators to introduce refreshed experiences over time," a spokesperson of the corporation said. On Instagram, where the beach club has more than 10,000 followers, its profile description now reads "temporarily closed". The shutdown appeared sudden. On Jan. 26 – four days before operations ended – the beach club posted an Instagram reel promoting its Booze, Beats & BBQ event "happening every last Sunday of the month." Corporate filings show that Tipsy Bird was incorporated in October 2018, with restaurants listed as its principal activity. Its sole shareholder is local hospitality group Tipsy Collective. According to a 2023 Facebook post by Tipsy Collective, Tipsy Unicorn opened on Sentosa on Sept 1, 2023. The group has faced a series of controversies in recent years following the death of its co-founder and former group chief executive, Derek Ong, at age 35 in August 2023. The group had previously owed more than 100 employees their October 2024 salaries, but completed repayment by mid-November that year after four shareholders injected an undisclosed sum to support the business. Development costs for Tipsy Unicorn on Sentosa in 2023 exceeded the original budget, rising from SGD3 million to SGD6 million, even as shareholders warned that the venture carried significant financial risks. ### Related Stocks - [U11.SG - UOB](https://longbridge.com/en/quote/U11.SG.md) - [UOVEY.US - United Overseas Bank (UOB)](https://longbridge.com/en/quote/UOVEY.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | DBS to impose 12-hour cooling period for adding new payees, raising daily transfer limits | DBS Bank will implement a 12-hour cooling period starting March 7 for digital banking users when adding new payees, incr | [Link](https://longbridge.com/en/news/276526067.md) | | UOB’s Sydney branch prices A$2 billion in five-year notes | UOB’s Sydney branch has priced A$2 billion in five-year senior unsecured notes, consisting of A$750 million in floating- | [Link](https://longbridge.com/en/news/273254362.md) | | Advik Capital Says Delhi High Court Grants Interim Asset Protection | Advik Capital Ltd :ADVIK CAPITAL LTD - DELHI HIGH COURT GRANTS INTERIM ASSET PROTECTION TO ADVIK CAPITAL | [Link](https://longbridge.com/en/news/276062688.md) | | Emami Paper Mills Ltd Says High Court Extends Interim Order On Arbitration | Emami Paper Mills Ltd :EMAMI PAPER MILLS LTD - HIGH COURT EXTENDS INTERIM ORDER ON ARBITRATIONEMAMI PAPER MILLS LTD - IN | [Link](https://longbridge.com/en/news/276212003.md) | | Cruise operator Carnival to unify dual listing | Carnivalannounced plans to unify its dual listings in New York and London and redomicile to Bermuda. 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