Having a Tantrum

Why did The Point go bust?

Well, it never.
And it most certainly is nothing to do with noise complaints.

The reason The Point went into voluntary liquidation was because they weren’t making any money. They never made any money. It was badly managed. And poorly programmed. As a business it failed. And so the people who own the building and own The Point brand, decided to put The Point business into liquidation, meaning: all us poor ticket holders lost our money, staff had no notice that they had lost their jobs and all gigs were cancelled the doors were just shut. This was voluntary. Because the business made no money.

The people who took this company into liquidation, still own the building. And the PA. And a chain of Coffee shops in Dubai. And a private Healthcare company worth billions. They could reopen tomorrow. But you can’t blame them for shutting their doors if it was losing so much money. But you are fooled into supporting the Point, writing to your paper, and expressing your concern and feeling sorry for them, groups are being set up around the city, funding is being asked for to set up a independent voice for music promoters (by the exact people who made the point fail) – when all they needed was someone who could run the business successfully. It has absolutely nothing to do with someone complaining about noise.

The 40k, 60k or was it 80k? soundproofing had nothing to do with them going bust.

The poor management and piss poor programming of the venue ensured that the company that owned it threw the towel in when they’d had enough.

Please comment below.

20 thoughts on “Why did The Point go bust?”

  1. Thank Christ!! It’s about time that somebody put their head above the parapet and shattered the mythical image of the Point as a venue run by well meaning music lovers who have suffered complete financial ruin at the hands of a noise abatement order.In my limited dealings with the Point I found that whilst there were some great music loving folk working there, the positions of power belonged to ruthless bread heads more than capable of seeing off the noise threat if there was money to be made.I sincerely hope that this iconic venue reopens very soon and is operated by someone who actually knows how to programme a successful 500 capacity venue. If that happens I’m sure that your point will be proven, if not the live music scene in Cardiff will continue it’s relentless slide down the shitter.

  2. Good to read this nugget of reality!This is a time where the useless people will be exposed. The era of selfishly fannying around to further one’s own ego has gone. If people want to make something work they have to be passionate and have integrity and be true and good. It is not rocket science. I heard The Point had great staff, it is a shame they had to suffer at the hands of whoever had creative direction of the place.Hope someone tidy comes in to run it because it is a beautiful performance space.

  3. I’m totally with you on this one Jas. If the business was viable in the first place, then paying for sound proofing isn’t an issue. If it makes a profit and the books are good, even if the capital isn’t available banks are more than willing to lend even in this severe economic climate.The truth is probably that the business wasn’t operating well and the need for sound proofing is the straw that broke the camel’s back, rather than being the only reason something would close.There simply isn’t a major problem with bars and residential occupying a close proximity – it happens everywhere else in the UK so why would Cardiff be the exception.Truth is its a really tough market out there for everyone in the licensed trade right now and the only thing closing premises right now is unfavourable market conditions. We’re having to work ten times harder just to keep things operating in the same manner as they did 12 months ago.We should just be more honest about it rather than blaming the wrong people.

  4. Bottom line is – no business can function at a loss. They maybe didn’t want to admit that it was their fault so therefore blamed a music abatement order. Whether it’s a business in music industry or otherwise if it fails to make a profit it goes under. They can’t draw funds from other businesses to cover the Point as it would make it a charity.

  5. Fairplay to you for voicing your opinion, you a rare commodity round these parts…not in having an opinion, there are plenty with strong opinions whispering in corners, but you’ve actually got the balls to come out and voice it. Which is why you have my respect.I can’t comment on the business side of things with no knowledge of the workings of or indeed if they do have the capital to turn this around if they really wanted to. What I know is from an outside point of view as a punter, receiving info on bookings and events. Its a stunning venue, really unique and a great live performance space with the capacity to hold 500 people. Some of the bookings I have seen over the past 6 months have been dire, an AC/DC tribute band, a Kiss tribute band, Iglu and Hartley. The only one that I thought looked decent was Mark E Smith. I’m not knocking the potential fans who might have loved these bookings, merely pointing out that this is a 500 capacity venue we’re talking about, not 150. Promoting a venue of this size takes decent acts and names, or one hell of a promotional campaign…..over the past year I have seen neither from the Point. I think I even saw a few months ago one of the guys from the Monkees booked for there? I can’t verify this…can’t find the info, but come on for fucks sake….what were they thinking? Can anyone really expect to fill a 500 capacity venue with acts like this?It IS possible to ram that place to the rafters, I have known events at the Point….indeed you and Steve have done this on a few occasions with Tantrum…Battles, Blowout and the Tantrum Records launch. I can completely understand where you are coming from as a frustrated promoter trying to put on gigs that people will love and yet another quality venue closing in our city. Without being able to agree about the financial situation of the owners through lack of knowledge on the situation, I agree wholeheartedly that it has to be poor management and poor programming resulting in lack of attendance that has ground the Point to a halt. I’m not joining any publicity campaign of “save the point” as much as I love the venue, gutted for the people who lost money on tickets already bought and gutted for the staff who lost their jobs so abruptly.Once again, good on you for saying what you think. From what I’ve heard about your blog since you posted this…..you’re certainly not alone in your opinions….but so far you are the only one who is saying it out loud.

  6. thanks for the replies here, seems like i have some support in my views here. i have also recieved several emails / private messages from people who have said they agree with what i say and respect me for voicing it. but some saying they cant be seen to support me publicly, for some reason. Anyway, i’ve said the facts. some forum’s have dissed this post. i wont bother replying to the disses, i have said my bit, and would like to leave it there.Thanks for comments!!! X

  7. Spot on mate – good to hear people telling the truth about this – i was a member of staff in the venue and i put my heart and sole into the placethe staff were treated terribly about the closure and its still very sad to find out you have lost your job through FACEbook of all placesi believe with correct management and programming the venue would work, as for the tribute acts playing there – they always sell out – limehouse lizzy is a great stage show and near enough capacity – its the bands that only pull 150 people in that basically lost the venue money I loved this place and if i had the money i would love to have a crack at it, fingers crossed for 6 numbers on the lottery i thinks 😀

  8. Thank you, thank you, thank you, thank you. I am so sick and tired of hearing these shitty excuses to why I lost my job (via facebook, for the record) And you my friend, summed it up in a nutshell. If I ever meet you, I will buy you a pint.

  9. I agree with Anon. I was also a member of staff at the point, and what you are saying is very much the truth. We were even talking amongst ourselves prior to the closing down about a coup. Shame we didn’t take it any further and in time really!

  10. not really a coup – i like pirate talk so lets call it a mutiny… it was apparent that the venue was going through we just didnt believe it would go so fast

  11. Quick question to those members of staff posting on here:If it was apparent that the people running it were failing dismally, have you made the venue owners aware of their failings to make sure they don’t end up in charge of it again? I do hope so as it would be a pity to see a pair of management wannabes who have no clue somehow make it back in charge of anywhere, let alone the point.

  12. Thank you for posting this … its made me realise that i’ve started to accept and believe everything I read on facebook. Anyone can set up a group, say anything about anything and if enough people join … we believe it … Oh, and i’d forgotten that promoters are not always truthful … how old am I

  13. If I understand it correctly it was only the management company that ‘went bust.’ The company that owns the Point is still alive and well.
    So the management company folds – debts are written off and, hopefully, a phoenix will rise from the ashes.
    If it stands empty and unused surely no one makes any money.

  14. yes – the management went bust – venue itself including PA system and fixtures is still in place with no debt and the sound dampening (not proofing as you will never be able to soundproof anything) has been completed

    basically a perfect business execution – the landlord wouldnt bail out the management of 100k in debt. and why should it when they can let it die and start from scratch and let another company take the debt from the work?

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