Nottingham club PRYZM closes with ‘immediate effect’ after company goes bust

The club is one of 17 other sites shutting down across the country

Nottingham night club PRYZM has closed with “immediate effect” after the company which owns it, Rekom, went bust.

Przym made the announcement of its closer earlier today on its Instagram as it becomes one of 17 other sites owned by Rekom across the country to have also shut down.

The company, which owns more than three dozen nightclubs and 12 late-night, said it has been an “extremely difficult” year due to the cost of living crisis and an increase in energy prices.

This comes after the Nottingham location was seen being stripped earlier this week fuelling rumours surrounding its closure.

In the post to its Instagram, Nottingham PRYZM shared a statement from owners Rekom announcing its closures saying how “staff affected” have been briefed and  would be “supported” following redundancies.

It also said that administrators have now been appointed to all the seven companies that operate the bars and clubs owned by Rekom.

Peter Marks, Chairman of Rekom UK commented on the closures saying: “We have made every effort to redeploy staff across the business where possible and we’re pleased to have saved around 1000 jobs. Regrettably, however, the reduced estate meant it was inevitable that we would have to make some redundancies.

“We have informed all colleagues within the organisation of the unfortunate developments that have taken place over the last 18 days.

“This outcome follows an extremely difficult period for the late-night sector, thanks to the combination of the cost-of-living crisis hitting younger generations and students particularly hard, as well as the rising National Living Wage alongside increased business rates and costs of operating.”

PRYZM opened in Nottingham in 2016 following an £800,000 investment and was renamed from Oceana. It is currently Nottingham’s biggest night club with a capacity of 2,500, beating in size other venues popular with students such as Rock City and Ocean.

Featured image via Google Maps. 

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