Leeds club PRYZM to close down with ‘immediate effect’ after company went bust

Popular Leeds nightclub Pryzm has announced it will be closing with immediate effect after going into administration.

The club is one of 17 sites owned by Rekom Group to close across the country.

In a press release issued by Rekom Group today, the parent company revealed that the business has struggled financially due to the cost of living crisis.

Pryzm Leeds confirmed the closure in an Instagram post shared earlier today, which explained that the closure occurred as a result of the cost of living crisis, which has largely affected students and has impacted the late night sector. 

The other 16 sites which have also closed with immediate effect include:

Basildon Unit 7  

Birmingham PRYZM  

Coventry Jumpin Jaks  

Dartford ATIK 

Exeter Unit 1

Kings Lynn Bar & Beyond    

Nottingham PRYZM  

Oldham Liquid & Envy  

Plymouth PRYZM  

Portsmouth PRYZM  

Romford ATIK

Swansea Level 17 

Watford PRYZM 

Watford Steinbeck & Shaw  

Windsor ATIK

Wrexham ATIK 

Pryzm Leeds had been the location for Leeds Beckett University’s sports night socials up until its closure. It is thought that societies will now need to find an alternative venue for their Wednesday night socials, with speculation amongst some Leeds students that the new location could be Manahatta.

Rekom Group said that staff members have been notified and that it is committed to providing support to staff members “affected” by the closures.

Peter Marks, Chairman of Rekom UK, commented: “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.”

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Featured image via Google Maps