The Arches in Glasgow has entered administration
It recently lost its late-night license, cutting off a significant amount of income
Glasgow's The Arches has been forced into administration, with all events there from today being cancelled.
There were worries surrounding the venue's future after the Glasgow Licensing Board ruled it could only be allowed open until midnight, meaning club nights, accounting for approximately 50% of the annual turnover, could no longer be held there.
After initially saying the decision, based on drug and alcohol-related incidents at the venue, would have a "devastating effect", it's now been confirmed that administrators are being drafted in for Arches Theatre and Arches Retail Company Limited.
The Arches Retail Company Limited chairman, Gordon Kennedy, expressed his sadness at the situation, but hopes The Arches has a future in some shape or form.
"This decision has been taken with deep regret as it will have a major impact on our staff, business partners, customers, and on Glasgow's reputation for night time economy.
"Our hope is that the administrators, working with partners and stakeholders, can salvage some of the activities for which The Arches is renowned."
He continued: "The Board sincerely thanks our staff, customers, supporters, performers and partners for their support over the years. This is a very sad day for The Arches and for the city of Glasgow."
He also revealed that The Arches had been in talks with Creative Scotland and Glasgow City Council, exploring funding options, but said it was "impossible to come up with a sustainable model". He also thanked the 40,000 plus people who signed the petition to save the club.
[ Via: FACT & Evening Times]