BusinessBusiness RecoveryFabric nightclub sold by PwC administrators

Fabric nightclub sold by PwC administrators

PwC team secures a buyer for Fabric the world-famous clubbing venue, which went into administration this month

Partners from PwC have sold Fabric nightclub after it went into
administration earlier this month.

David Chubb and Colin Haig announced the sale of Fabric 591 Limited, which
operates the 1500-capacity late night haunt, to Fabric Life Limited for an
undisclosed sum.

David Chubb, partner and joint administrator of Fabric 591 Limited said:

“We are delighted to announce the sale of the Company. 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.”

Further reading:

PwC
administrators appointed to Farlane Property Group

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