SuperPark Closes S’pore Outlet At Suntec City With S$18M In Liabilities
The Finnish indoor SuperPark business park opened in Singapore at the Suntec City shopping center – its first outlet in Southeast Asia – in November 2017.
Covering an area of 40,000 square feet, the two-storey establishment promises more than 20 “fun, healthy and energizing activities for all ages.”
However, SuperPark Singapore recently closed after less than two years of operating here.
Its owner Suntec City took possession of the premises on October 8 because SuperPark Singapore “was unable to come up with a concrete plan to restart operations,” said Anthony Yip, vice president of APM Property Management, which manages Suntec City.
On its Facebook page, SuperPark Singapore announced the cessation of business operations from April 1 “until further notice” due to the government-imposed circuit breaker rule.
The park has not reopened since then.
Dealing with financial and legal issues
The Business Times previously reported that the park’s holding company, SuperPark Asia Group, is under interim administration with $ 18 million in liabilities.
According to Anthony, APM Property Management is currently examining various options for using the vacant space, including renting it out to other indoor playground operators or converting it into a playground for buyers.
“We will also consider inviting SuperPark’s acting judicial director to submit a proposal to restart operations if they wish,” he added.
Despite the closure of its Singapore outlet, SuperPark has 18 other parks around the world, including Hong Kong and Kuala Lumpur, Malaysia.
Featured Image Credit: SuperPark Singapore
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