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Fabric For Sale

Rumours were rife last week but it has now been as good as confirmed that London super-club is in administration.

Trade magazine Property Week is today reporting, online, that property consultants Edward Symmons have been brought in by administrators PricewaterhouseCoopers to find a buyers. Edward Symmons representative Colin White, a partner in the firm’s Hospitality & Leisure Division comments: “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.”

Last week, Fabric stated that nights were running as usual despite the temporary closure of sister venue Matter. Fabric, guarantor of a £3.2m loan taken out by Matter, admitted it was currently sorting out financial issues following Matter’s closure.

Fabric entered into administration once before, in 2003, but with little or no effect on its events calendar. The club’s management team was eventually able to buy the venue back.

More updates to follow.



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