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O2 clubbing space uncertain as Proud2 company goes under

By | Published on Monday 5 November 2012

Proud 2

The future of the club venue under the O2 Dome is looking uncertain after the company that operated what was known as Proud2 went into administration last month.

The business, a joint venture between the Proud Group and Dome operators AEG Live, seemingly went into administration after the Proud2 space temporarily lost its licence following a stabbing incident on 2 Sep.

Greenwich Council subsequently restored the venue’s licence, subject to some changes in security arrangements, last month, but the space is yet to reopen and no future events are currently being promoted on the Proud2 website. Events that had been due to take place in the space in September had to be relocated after the licence was revoked.

Rumours that the Proud2 company had gone under began to circulate shortly after the venue’s temporary closure, while newer reports suggest that the Proud Group unsuccessfully tried to rescue the business by appealing to its business partner and landlord AEG to reduce rental payments. Though the exact timeline isn’t yet clear, a notice from Proud2 Limited announcing a creditors meeting under the 1986 Insolvency Act, dated 17 Oct, was published by the London Gazette last Thursday.

Neither Proud nor AEG Live have as yet commented on the future of the Proud2 company or venue. It remains to be seen if the expected closure of the Dome outpost of the Proud empire has any impact on the wider group, which operates a number of galleries and club spaces around London, and which has invested a lot into the development of its Proud2 space.

As previously reported, when Fabric tried to launch the same venue as Matter, the collapse of its Dome venture took the main Fabric business to the brink too.