More than 100 employees of hospitality group Tipsy Collective who were affected by delayed October salary payments received all dues by December, after fresh investor funding ensured timely payouts and full Central Provident Fund (CPF) contributions.
The employees, who were supposed to receive their October salaries on Nov 5, initially received partial payments a few days late.
They were fully paid by mid-November after four shareholders injected an undisclosed amount of money to rescue the business. The funds were also used to pay the CPF owed to the employees for September and October.
With fresh funds injected, the company managed to pay salaries on time along with full CPF contributions on Dec 5.
The home-grown food and beverage operator has been grappling with legal disputes and financial instability. It has closed two bars and one restaurant since October. The workers were redeployed to the company's remaining seven outlets, a spokesman said.
Responding to queries from The Straits Times, the spokesman said the October salaries, which were due on Nov 5, were paid only by mid-November to operations staff, while about 20 headquarters employees received their salaries in late November.
The company went through a management change in November amid an ongoing legal battle between its co-founder and shareholders.
The spokesman said funding requests were sent to all of the group's six shareholders, who include co-founder David Gan and former chief operating officer Reuben Low.
This story is from the January 04, 2025 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 04, 2025 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Passengers say Turkish Airlines flights have bedbugs
Shortly after boarding her Turkish Airlines flight from Johannesburg to Istanbul in March, Ms Patience Titcombe from Phoenix noticed a small bug crawling on her seat when she got up to use the restroom.
Actor Ben Yeo shutters restaurant after incurring $1 million loss in two years
Local actor and F&B entrepreneur Ben Yeo is shutting down the high-end modern Chinese restaurant he founded, Tan Xiang Yuan, after two years.
Director Jeff Baena elevated dark themes with humour in his works
American director and screenwriter Jeff Baena, who co-wrote the dark comedy I Heart Huckabees (2004) and directed films including Life After Beth (2014) and Horse Girl (2020), died on Jan. 3 at a residence in Los Angeles. He was 47.
Squid Game star denies ties with South Korea ruling party's former leader
Squid Game star Lee Jung-jae has distanced himself from the party of South Korea's President Yoon Suk Yeol after a photo of him with the party's ex-leader resurfaced online, according to Korean media.
Japanese cast dominates as Shogun breaks new ground
Comeback stories and Asian representation at the awards show celebrating the best in film and TV
A toast to Switzerland
The country is adopting a sip-and-stay approach to spread the word on its best-kept secret – wines
Saving the mysterious African manatee in Cameroon
Ever since his first hard-won sightings of African manatees, award-winning marine biologist Aristide Takoukam Kamla has been devoted to protecting the little-known and at-risk aquatic mammals.
'CRAZY' CHUA TURNS PRO
S'pore triathlete aims to win SEA Games, qualify for Asian Games and Olympics
The fall in sport is cruel, inevitable and hard to digest
In sport, this is the guarantee. Falls will be hard. The boxer sent to the canvas. The rugby winger brought to earth. The gymnast slipping off the high bar. And the hero tumbling from his pedestal.
AMORIM WANTS SAME 'MENTALITY EVERY DAY'
United need to replicate the fortitude shown in draw at Liverpool to become a better side
