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Fabric sale confirmed

By | Published on Friday 25 June 2010

The sale of London nightclub Fabric has now been confirmed. As previously reported, the faltering club was recently sold to a newly incorporated company called Fabric Life.

We now know that company’s main investor is a guy called Gary Kilbey, though a number of other people have put money into the new entity as well. The club will continue to be run by the same team as it was before its former parent company, Fabric 591, was dragged into administration by the spiralling debts of its other nightclub, Matter.

Administrator David Chubb of PricewaterhouseCoopers said in a statement yesterday: “This ensures that Fabric, an iconic London club, will stay open and continue to entertain. Through the sale of the business, the jobs of over 100 people will be saved. We kept the club open during the administration and this would not have been possible without loyal employees, clientele and suppliers. We would like to thank them for their support over this period”.

In a statement of its own, Fabric said: “The Fabric family is delighted to announce that Fabric is no longer in administration. Fabric has been bought by a consortium who fully back founders Keith Reilly and Cameron Leslie’s vision; nothing within the scope of the Fabric ethos or team shall change. The consortium has formed a new company called Fabric Life Limited. After ten and a half brilliant years, we look forward to many more”.

As do we. There is still no official word on what fate will befall Matter, the website of which is still claiming that its closure will only last the summer.



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