Taiwo Afolabi, the Managing Director of Sifax Group, has closed down his nite club, De Eclipse, in the United Kingdom.
When Afolabi opened the relaxation spot years back on Camberwell Road, South East London, it was with the mind set that the business was going to be viable.
Chances are that he wanted to prove that he was a jack of all trades and master of all.
Though many did not welcome the idea, they believed Taiwo was only making a statement about his social status.
But the thinking was that he should have put the hard currency he invested in the entertainment business into shipping, an area in which he has carved a niche for himself.
The nite club business, which Afolabi had thought would be another source of money making, turned into a pocket draining venture, which did not break even until its closure.