Renowned Cardiff music venue The Point is set to close its doors for the last time.
The venue had been in financial troubles for some time, but now the company that owns the building – Point Cardiff Bay Limited – has been placed into liquidation.
The owners place a notice on the venue’s official website on February 27th stating that the Point had been forced to close due to the financial burdens presented by the credit crunch and increased soundproofing measures.
In the past The Point has played host to superb shows by artists such as Super Furry Animals, Franz Ferdinand, The Bluetones and many, many more.
The statement from the owners reads:
“During 2008 we began receiving noise complaints from one or two neighbours. 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 were due to play the venue on March 22nd – this gig has now been diverted to the nearby Globe venue.
