UK’s Leading Nightclub Firm Hit by Cost-of-Living Crisis: Expenses Mean Venues Face Closure.
Rekom UK, the largest UK nightclub firm, with over 45 venues including clubs like Pryzm and Atik, say they can no longer keep up due to the cost-of-living crisis.
Rises in goods and energy prices have affected venues largely, so too has the decrease in midweek footfall relying on students, who say: “I can’t afford to keep going out.”
Considering the governments plan to raise minimum wage, Rekom must also find £2 Million by April this year. In a statement, Chairman Peter Marks said: “The company cannot continue to run at its current structure.”
The Pryzm venue in Watford was forced to shut earlier this month, and it’s unclear on who could be next.
Several independent businesses have been forced to close their doors, but is it now time to worry if the largest firms can no longer keep up?
