This just in! - The Coronet is closing!

[Manikular]

money problems apparantly..

damn shame!

[DJ Chemical]

really?

the source of this info is???????

would find it hard to believe, but shit, I never went there anyway!

Bukka!


:wub: :wub: :wub:

[dj raw]

no way !!! :(

any ideas when?

[Misdemeanor]

I heard this on friday - but their was nothing on the website to say that it was true.. Cant belive this!!

4th July 2003

Press Statement

The Coronet, 28 New Kent Road, Elephant and Castle, London, SE1

Following recent reports regarding the closure this week of The Coronet, London newest multi purpose events venue, Pure Management and Consultancy Limited (Pure), the venue’s event management company, would like to clarify the current situation with the following statement.

“During the evening of Wednesday 2nd July 2003, we were advised by Mr Dominic Madden, a Director of Coronet Refurbishment Limited, that following his discussions with Coronet Refurbishment Limited’s professional advisors he was progressing a financial restructuring of Coronet Refurbishment Limited. The company has subsequently been placed in Receivership.

At no stage prior to 2nd July did Mr Madden or his advisors consult or inform Pure Management & Consultancy Limited (“Pure”), the venue’s event management company, that such action was to be undertaken - consequently ruling out any opportunity for Pure to get involved and try to avoid Coronet Refurbishment Limited’s Receivership.

Pure is endeavouring to negotiate a package with the Receiver and the Landlord that will enable the venue to continue to trade. We hope this will generate income for the benefit for all of Coronet Refurbishment Limited’s creditors and those clients that have booked events.

Despite being locked out of the building on the authorisation of Mr Madden (upon advice) which was in breach of Pure’s contract with Coronet Refurbishment Limited, Pure has offered assistance to Coronet Refurbishment Limited to enable it to continue to trade for Extreme Euphoria that was due to take place on Saturday 5th July, 2003. This was because we believed it was in the best interests of Coronet Refurbishment Limited to preserve the goodwill of the venue. Unfortunately, such assistance was declined and as a result the venue will remain closed this weekend and we believe Coronet Refurbishment Limited will not generate any further income from the venue.

Pure were able to source an alternative venue for Extreme Euphoria and Saturday’s event has been relocated to the SE One club in Weston Street, London Bridge, we would like to thank them for their understanding in very difficult circumstances.

Developments regarding the Coronet and Pure Managements involvement will be announced as soon as they occur. Currently Pure do not have any representation on site and as such all enquiries relating to Pure should be directed to Pure’s Head Office on 01732 764800.

[Mikee Merge n C]

What does that mean in my language? :D :o :huh: :wacko: :lol:

[Misdemeanor]

i see rumours (well read not heard) on dnba that it might being bought by another company.

lets hope if its true they employ some more barstaff!

[_GB_]

There is an updated press release on 7th saying they're meeting The Bank to see what can be done.

IMVHO it looks like they blew all the ca$h on the Swanky Coronet London Web-site (http://www.coronet-london.com). Strangely they're still advertising the Sound Clash Night (http://www.coronet-london.com/eventinfo.asp?eID=17) on there.

Realistically, from the story here, it looks like someone (name is on the site) set up a company to refurbish it, borrrowed loads of money to do so and, ahem, spent the lot. The creditors want their money back and the club is sitting empty, hence they want to make sure its put to use at least until the money has been repaid.

Last week we were told by a number of sources that Coronet Refurbishment Limited had been place in Receivership. It now transpires however that a Receiver has not been appointed.

Usually happens when the literature is so over-cooked nobody will touch it with a long pole for boats (http://www.bargepole.com/).