Fabric is closing!!!
Just read this;
Could be the worst news I have heard all year…
Its not closing, all Fabric First members received an email today from the club saying that its open and will be for a while. Just because its in administration doesn’t mean its closing.
If its in Administration then its gonna get bought by some turds and will be Offices by the end of the year.
oh no!!
gonna have to get my butt down there again soon. been like 3 or 4 years (or whenever smoking ban kicked in) since last went.
nah - gone into administration a few years back as well… the administrators won’t sell the place… they’d be stupid not to keep it on as a club… the whole problem with that place was that it was too busy!
Can you translate “gone into Administration” to USA English? 
Basically it means they are illiquid aka they have no cash but they still have time as the bank will give them time to come up with a plan.
Matter was clearly a bad idea, a large concrete slab with no soul. Ministry also may be closing because of a development program to build it into flats…
What will London have left of they all close…Shoreditch???
Here in PR clubs just change names (and administration) a lot. First we had Club Egypt with big ass sphinxes in the entrance. Then it changed administration, painted the sphinxes in silver and its called Stargate. Then they painted the sphinxes again in brown and the name is Cairo. Im waiting for when they call it Mario Land Desert Level.
hahahahahha
Lol
Roflmao
Can’t say it’s going to be missed
Full of tourists and gurning chavs.
The underground scene (Fabric is not underground) in London is thriving with very good nights thursday - Sunday every week.
I also heard the venue is up for sale. They accumilated 2m+ in debt due to matter (putting a club in the middle of nowhere on the one tube line that is closed every weekend???). I also heard that almost all the interest in buying the venue is coming from club owners/franchises.
TBH, fabric is an amazing venue, the crowd sucks, and the music gets old (Craig Richards and Terry Francis every Saturday, really?)
Its events like last sunday (Chris Liebing, Oliver Huntemann) that make that place the club mecca that it’s supposed to be.
We’ll see what happens. I wont miss Matter one bit though.
Totally agree. Matter sucks, I went to Hospitality and I looked around And started to think to myself…not what a wonderful day, but since when did I get so old (i’m only 25).
Fabric is an amazing venue, it may be a bit touristy but I have had some amazing times there. Shogun nights on Fridays are still good and bring in a “normal” crowd.
Pics??
When i was in London in 2000\2001 i went to HOME…and BAGLEYS.
They were good!..but not my style of music back then.
Was amazed at the size of them tho!
Is Fabric something similar or?
Cheers!
Yeah…looks very similar to a club we had here a few years back called 98 Degrees.
Our BangBang club also similar but smaller.
Sweet!
um…lol.
Businesses dont accumulate debt and go into administration because they are “too busy”.
The point would be is that they werent busy enough to cover their overheads.
Ambition is agreat thing, but some forethought is better than hindsight.
Clubs can make money and still get shut down, trust me on this.
Its fucking money grabbing Landlords that kill clubs.
I have first hand experience of this. LAST FUCKING WEEK.
Club was jumping 3 or 4 nites a week but the landlord simply priced the managers out of business.
In the last month alone weve had Rusko, Foamo, Hostage , Borgore, Kysko, Murkage Cartel, and we were just putting together the final contracts for DJ Zinc and zip, carpet pulled from under our feet.
Hes now got an empty building that has no prospect of opening again for a long time and a HUGE electricity bill that needs paying or the electric doesnt come back on , and by huge i mean 10,000.
We are just gonna take out shit elsewhere.
the above is not an examle of being shut down because yore too busy. In fact you can take the operation elesewhere, also youre not in administration.
You wouldnt be able to do this if you spent all your money and went into hock building a vision that you couldnt maintain through thick and thin.
To operate any business sucessfully you need to reserve for potential and actual loss, reserve for rises in operational and capital expenditure to ensure you can simply maintain the same level of service consistently. If you do this well, you will make some profit. You can take this profit and reinvest in the business, spend it, or do crazy shit like open another venue. Point is if you dont have a sufficient operational reserve for the new place, youre going to go into the red real quick.
Then you cant operate for very long.
The point of an administration is thirdparty business savvy group of auditors, accountants and business minded project leads can bring a sucessfull business model back in line to be profitable. This is in the interest of everyone. If it cant be done, the bsuiness is liquidated. This is a last resort.
Land lords are in buisness too. If they can squeeze you for a few exta bucks, and you can afford it, then they profit. If they drive you out, they better hope they have enough of a reserve to cover the loss of income from lack of rent.
They could fill the spot again, or they might not, they might not need to etc.
End of the day, everyone needs to make money. everyone need to think ahead and plan. Businesses dont make money from thin air. It takes money to make money, and if you spend it in ways that wont ultimately give you a return quick enough to get your reserves back up or to cover costs/loses that are inevitable while the model wears in, youre fucked.