100 Club facing threat of closure at Christmas
Sad news from the 100 Club:
“The writing has been on the wall, so to speak, since the rent increased by 45% in 2007. It was an increase that was unsustainable. Just as pertinent have been the increase year on year in Business Rates that have now reached a ludicrous level of £1000 per week, and now the Government are increasing VAT to 20% from January. There have been over a dozen increases in duty on alcohol in the last two years or so as well, meaning that my supplier’s bills have increased some 40% in that period….
As a result the 100 Club, now the oldest live music and entertainment venue on the Planet, will shut it’s doors for the final time at the end of the year unless a sponsor, funding or a buyer can be found, after accruing losses of almost £100,000 a year for the last three years.
Jeff Horton (Director)“