Fancy A Club? Buy Fabric

Written by the B&B Crew Wednesday, 02 June 2010 20:48

We reported last week about rumours on a possible closure of London's Fabric club. Although its management cited 'business as usual' it now sees the club has met its demise as it's been made available for purchase. So if you're interested...

According to an article published earlier today in Property Week, consultants are currently in the process of looking for investors/buyers. You've got to be quick though since a partner in the company responsible for selling the property said that "Just 24 hours after being appointed, we have already received a number of enquiries from potential purchasers. We anticipate continued interest in the sale of Fabric, particularly from other major club operators in London and the south east, and we are confident that a purchase will be secured for the business as a going concern."

The news about going into administration comes a week after the management claimed nothing was wrong despite the closure of Fabric's sister club Matter. Fabric was guarantor for a 3.2 million loan taken out by Matter, and the management now admitted the closure of Matter has it's effect on Fabric.

We have not heard anything about the event schedule for the coming weeks. It's isn't the first time Fabric has gone into administration. In 2003 the financial troubles had little impact on the weekend program and eventually everything went on as normal. It remains to be seen which turn things take this time around.

Update: Today the management of Fabric came with a official statement that said; business as usual. Check out the statement yourself:

"Despite the administration appointment over Fabric 591 Limited, the nightclub, records and publishing continue business as usual. The nightclub enjoyed a fantastic bank holiday weekend with 3 successful events. For more information about fabric’s future events, please refer to www.fabriclondon.com"

 

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