Two months after shutting down Escape Nightclub, Richard Nnadi, the Founder and Managing Director of the Nigerian leisure spot, has finally disclosed the reason for making the unexpected decision.
Why Escape Nightclub shutdown: In a video Nnadi posted on his Instagram page, he said Nigerian celebrities forced him to shut down Escape Nightclub. Most of the celebrities who frequently partied at his club have failed to pay their bills.
He said their lavish lifestyle which they could not afford, caused Escape Nightclub to become indebted to the tune of N120 million.
Nnadi shut down Escape Nightclub in January 2019 without initially offering any reason for his action. The move shocked most club goers, seeing as the nightclub was the rave of the moment.
Why Nnaji is disclosing the reason for Escape shutdown: Along with the Instagram video, Nnaji posted a short piece, stating that since he is no longer in business, he has nothing to fear. Nnaji said he made up his mind to speak up because he isn’t the only nightclub owner that has been a victim of celebrity debtors.
“Other Club Owners Won’t Say Anything Cos They Are Still In The Business But I Am Out And Never Going Back So I Will Take This For The Rest Of Us That Can’t Speak!”
The celebrities Nnaji accused: Although Nnaji did not mention names in the Instagram video, he gave an insight into their career. In his post, Nnaji listed Footballers, Musicians, former Big Brother Housemates, Politicians, Slay Queens and society big boys.
He hopes the video will compel these unnamed celebrities to pay their debt. But just in case it does not, he intends to come for them next month, April.
“I Am Coming For All Of U Cos April 1st Is A Day For Fools.”
Celebrities react to Nnaji’s disclosure
Several celebrities have reacted to Nnaji’s claim under the comment section of his Instagram post. The likes of Mavin Record founder, Michael ‘Don Jazzy’ Ajereh, Nollywood actress, Tonto Dikeh, Music producer, Oluseyi ‘Sheyman’ Ademoye, artist, Patrick ‘Patoranking’ Okorie, and many more responded in shock.
Don Jazzy, who recently secured a multi-million-dollar equity investment from Kupanda Holdings, said the reason Nnaji shut down Escape Nightclub also caused him to close his club business.
“I know how you feel bro. Same reason I closed my club years ago too.”
Hmmm
The first rule of business is never to sell on credit… will you ever learn?
That’s not the first rule of business , even banks give credit facilities… major corporations around the world offer credit to bolster sales , this allows growth .