The Point is shut due to financial constraints
Cardiff music venue The Point has closed down after the company that owns it, Point Cardiff Bay Limited, went into voluntary liquidation.
Owners posted a notice up on the venue’s website, The Point, on February 27 stating that the venue had to close due to the financial burdens brought on by a combination of the credit crunch and the cost of soundproofing the venue following complaints from neighbours about noise levels.
“During 2008 we began receiving noise complaints from one or two neighbours,” the statement read. “We undertook a huge amount of work to soundproof the venue in an attempt to secure its future.
“While that has largely been successful, the burden of the debt that we took on, together with greater restrictions in our banking facilities and more difficult trading conditions in the last few months, as well as the loss of revenue whilst the refurbishment works were undertaken, has meant we are unable to meet our current liabilities and have been left with no option but to seek voluntary liquidation.
“Many people have put their heart and soul in turning The Point into the magical venue that it is and we have received huge and loyal support over the years from fans and bands alike. We would like to take this opportunity to thank you all for that support. It is a very sad day for us and for the live music scene in Cardiff.”
Goldie Lookin Chain had been scheduled to play a gig at the venue on March 22.
The show has been relocated to The Globe venue and will take place on the same day, with original tickets still valid.
The Maccabees show which was due to take place at the venue the day it closed, will now be held at Cardiff University on May 12. Again tickets remain valid for the new show.