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It’s not news that London’s late night venues are struggling. In the past few months alone, there have been Crowdfunders and news of potential closure from grassroots spots all over the city – Heaven, Bush Hall, Matchstick Piehouse and more are all under threat right now. And it's not just these venues. A new report has revealed that 3,000 pubs, bars and nightclubs have closed in London since the pandemic. It’s looking pretty bleak out there.
The latest data from the from the Night Time Industries Association (NTIA) has revealed the devastating affects of the pandemic and the cost of living crisis on London’s late night industry. The figures show that 3,011 businesses have shut down since March 2020.
Soaring energy bills, sky-high rent and a generational decline in drinking are some of the reasons late night venues are suffering.
Nightclubs have particularly struggled with more than a third closing across the country, the NTIA said. This comes as young people are changing their going out habits to cut back spending – student nightclub chain Pryzm recently closed down 17 of its venues.
Michael Kill, chief executive of the NTIA said operating figures were 30 to 40 percent higher than they were four years ago. ‘There has been a lot of crowing about London doing well but I hear a lot of businesses saying “I don’t know what figures you’re looking at, it really isn’t going well”,’ Kill said.
Kill added: ‘These figures are a stark reminder of the devastation caused by the last three years, and will without doubt anger and frustrate people within the sector.
‘However, in the face of adversity, resilience prevails. We are dedicated to supporting our members and championing policies that foster recovery and growth.’
Want to help? All you need to do is go out more – let’s support our local independent venues, before it’s too late. Here are Time Out’s best clubs in London.
More nightlife on Time Out
We (with the help of the NTIA’s Michael Kill) recently explored the rise of superclubs and how they’re affecting London’s nighttime eco-system.
Listen to Time Out’s brilliant podcast ‘Love Thy Neighbourhood’: the newest episode with Jamie Laing in Hammersmith is out now.
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