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Fabric issue statement amid administration rumours
By CMU Editorial | Published on Tuesday 1 June 2010
The company behind London club Fabric issued a statement on Friday responding to all those rumours that the firm is in administration. Well, sort of. It confirmed the company was tackling “financial problems” caused by their Matter venture and that, as far as the Fabric venue is concerned, it’s “business as usual” for the time being. The latter point had already been made to Resident Advisor earlier in the week.
As previously reported, Fabric bosses announced they would be shutting Matter, their spin off venue under the O2 Dome, for the summer months the week before last. Amid rumours Fabric had guaranteed multi-million pound loans taken out by the loss-making Matter, and that various staff had been made redundant overnight at Fabric HQ, there was wide speculation last week that the clubbing company was on the brink and both Fabric and Matter might shut as a result.
The company’s statement on Friday skirted around most of the rumours, saying: “The directors of Fabric are currently dealing with financial problems due to the result of the Jubilee Line closures at Matter. Consequentially, Matter will definitely remain closed throughout summer. However, Fabric will very much remain open as normal, business as usual”.
The Jubilee Line is the main public transport service to the Dome, and is currently undergoing maintenance work in off-peak times, and has been shut completely for a handful of weekends, including some key Bank Holiday weekends. Though, in reality, Matter had public transport issues even before the maintenance work began, because most of its events kick off just as the tube service is winding down for the night, meaning clubbers must stick it out until dawn when trains resume, or work out how to make it back into central London using a complicated network of buses.
The transport issues have hindered the club, despite the state of the art facility being hailed by clubbers and DJs alike.
