News

 

02 Jun 2010

 

 

Fabric crowd

 

Following the recent announcement that Matter was closing for the summer it now looks like that its sister venue Fabric has gone into administration.

According to Property Week, Edward Symmons has been instructed by PricewaterhouseCoopers to find a buyer.

"Just 24 hours after being appointed, we have already received a number of enquiries from potential purchasers," said Colin White, a partner at Edward Symmons. "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."

Fabric was guarantor of a £3.2 million loan taken out by Matter and is experiencing financial troubles as a result of Matter's closure.

It remains to be seen how Fabric going into administration could affect its programming, more details as we get them.

 


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