Pubs and Bars

Queen Victoria Arts Club and The Exchange close

The Queen Victoria Arts Club and The Exchange bars, Leicester, have both closed their doors following a breakdown in discussions between management and its landlord.

Owner Cassie Davison said in a post on the two websites of the bars, that the landlord and 50% shareholder, unexpectedly closed both properties yesterday.

Davison said: “When developing and opening Queen Victoria Arts Club we entered into a business relationship with the landlord of both properties and as 50% shareholder he committed to supporting the business through the first few years of initial growth.

“In the past few months however he made it clear that he no longer wished to support and fund the business and so in good faith we started the search for alternative investment. Though we spoke with a number of individuals and organisations we had a preferred investor who had started serious and viable negotiations with the landlord.”

She added that after seeking alternative investment when the landlord no longer wanted to fund the business, he “ceased all negotiations” and “locked us out”.

Davison ended the posts with: “It is difficult to see the logic behind this decision and we are of the view that both businesses have been taken from us.

“Whilst this is a massive blow and will have a huge financial and personal impact on us our thoughts are with our extremely loyal suppliers who, like us, are small local businesses and will be out of pocket and of course our immensely professional and caring staff who not only have been made redundant but will also lose income.”

Back to top button