Could Fabric be closing too?

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Could Fabric be closing too?

Postby fletcher » 26 May 2010, 12:53

dont want to fan the flames and be the cause of more message board related tomfoolery, but...

http://www.bedrock.org.uk/socialise/vie ... 31#p379631


:( :( :( :(
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Re: Matter 'closing for summer'

Postby Dave Skywalker » 26 May 2010, 13:13

IN MY OPINION, that's very unlikely isn't it? I know Matter is owned by the founders of Fabric, but do they still own Fabric too? If so then yes, I could see how if they ploughed all their money from Fabric into Matter then you'd be screwed on both counts, but even so...

There's been loads of rumours in the past about Fabric closing / going out of business etc in the past, much like there has been with any long-standing venue.
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Re: Matter 'closing for summer'

Postby PaulX » 26 May 2010, 13:35

From one poster there:

Just out of interest how can a place like Fabric not be making any money? it's always rammed - isn't it?


Dunno how comparable the situations are but the Hacienda was always rammed yet Factory Records didn't see much of the money, as the bar takings were quite small (not many people doing alcohol at the time) and the people making most money there were, erm, not club staff. ;)

But the basis for this rumour - a friend of a friend says he hasn't been paid - is a bit thin at the moment. Liam's post starting the Matter thread had a little more substance to it. Let's see how things unfold.
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Re: Matter 'closing for summer'

Postby isobel1 » 26 May 2010, 15:35

fabric has just into receivership and has just gone bust
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Re: Matter 'closing for summer'

Postby BassBin Terrorizer » 26 May 2010, 15:52

Apparently fabric was put up as collaterol against the 3.2 million loan that was taken out to create matter..!

Like i say "apparently"
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Re: Matter 'closing for summer'

Postby imitationleather » 26 May 2010, 15:55

Where is this info about Fabric from?

Fucking shocking if true!
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Re: Matter 'closing for summer'

Postby MiniMarc » 26 May 2010, 16:00

dear god no , no!
If fabric closes then i despair i really do. that i go there that often but when i do it always hits the mark . their 30hour on & on parties showed they believe in good music at quirky times and were more fun than id had in a long time.they at least need to do a marathon closing party!
Lets hope its not true
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Re: Matter 'closing for summer'

Postby baldmosher » 26 May 2010, 16:03

Losing Fabric would be a shame for London but I've not been for the last 5 years so there you go. There seems to be a recent trend for trying to make lots of money from doing something that doesn't make very much money in the first place. Why on earth Fabric would stake their existence on such a risky venture as Matter, I have no idea.

I blame New Labour.
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Re: Matter 'closing for summer'

Postby baldmosher » 26 May 2010, 16:05

isobel1 wrote:fabric has just into receivership and has just gone bust

This doesn't make sense. Well, the first part almost does, but the second isn't exactly a very technical term is it, and the company is not likely to be wound up immediately after entering receivership. Or maybe they took one look at its 'assets' and laughed at the bank who reckoned the business had £3m worth. Fabric's worthless unless sold as a going concern. Like football clubs, it's not likely to close if it can still make money.

Although I would guess the 'record label' arm of the company is probably rather profitable so maybe they'll sell that for £3m. I dunno. The possibilities are endless.
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Re: Matter 'closing for summer'

Postby isobel1 » 26 May 2010, 16:07

As I said I worked for Matter..... (Obviously not anymore) and they did use fabric as collatoral. The administrators have obviously come in and taken the venue to pay off matters debt. Either that or they simply cant afford to pay staff wages. Again a very sad day for all my friends at fabric and for london in general.
Last edited by isobel1 on 26 May 2010, 16:11, edited 1 time in total.
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