Why did The Point go bust?Posted: March 26, 2009
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.
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