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Tue 20th Aug 2013 - Breaking News - Gatecrasher to expand after pre-pack
Gatecrasher to expand after pre-pack: Four-strong nightclub company Gatecrasher will expand its events business and pursue international expansion after a pre-pack administration. Gatecrasher chief executive Simon Raine said: “The transfer of the business to the new company, along with extensive corporate restructuring and refunding of the business, has enabled Gatecrasher to progress on a secure financial footing. We now have a secure and positive platform to continue with our plans for domestic and international events. The restructuring was the only option available to ensure the continued viability and growth of the business and also preserve jobs.” The core Gatecrasher business ‘remains highly profitable’ and significant investment, following a pre-pack administration, has allowed the brand to move forward. As part of the restructuring, Gatecrasher will invest heavily in its flagship venue GB in Birmingham. The company’s Nottingham venue is also being rebranded to suit the local clubbing fraternity and an expansion to capacity is currently awaiting planning approval. Gatecrasher’s Watford nightclub ‘Cameo’ has also re-opened for business, following a major property upgrade. As part of the restructuring, Gatecrasher has closed its Leeds venue. The venue no longer fits with the brand’s plans due to its location, size and limitations in terms of development. The restructuring will also allow for further investment in Gatecrasher’s global events business. Gatecrasher will return to producing the events and festivals that originally made the brand a ‘worldwide clubbing phenomenon.’ The brand originally ran the high-capacity, trailblazing Summer Sound System festival in the UK and Australia headlined by the world’s biggest superstar DJs and live acts including the Prodigy, Chemical Brothers and Faithless. Plans are in place to put on events both in the UK and across the world, with a deal already in place with Donington Park, home to the iconic Download Festival. A series of 10,000 capacity warehouse events have been planned and the next event is on Saturday 19 October featuring headliners Paul van Dyk, Ferry Corsten and John O’Callaghan. Internationally, Gatecrasher plans for further investment with substantial overseas development already underway in Asia and the USA. Gatecrasher is also looking at opening clubs in key capital city locations including London, New York and Singapore. Gatecrasher has already opened its first permanent overseas nightclub in Surabaya, Indonesia and plans to develop further within Southeast Asia’s burgeoning club-scene with immediate plans to open more clubs in Singapore and Jakarta. Outside of Asia, Gatecrasher will maintain its global touring schedule and also plans to increase events and club-nights across Australia. The flourishing US club-scene will also play a critical part in Gatecrasher’s worldwide expansion with plans in place for clubs and events in the party capitals of Las Vegas and Miami.This morning, Propel reported that Gatecrasher was fined £5,000 after 636 litres of industrial alcohol was found at its Leeds site last year. A total of £3m is owed to Barclays Bank and £500,000 to HM Revenue & Customs as a result of the pre-pack.
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