Company who owns Pryzm has been sold for £10 million and yes, it includes Brighton’s club
Can you hear our hearts breaking?
Deltic, the company who owned Pryzm and the connected Steinbeck and Shaw cocktail bar, has been sold for £10 million, Brighton and Hove news reported.
Deltic were bought out of administration by Rekom Group.
This comes as the third national lockdown was set in place this Wednesday, proving that the continued coronavirus restrictions are massively impacting businesses, especially hospitality.
Deltic’s chief executive, Peter Marks, will continue to run Pryzm for Rekom, who have bought 44 out of 55 of Deltic’s venues.
When restrictions came into place, Pryzm cut 1,000 jobs and turned areas of the club into bars in order to survive. Despite their best efforts, they were still losing around £1 million a month.
The Night Time Industries Association believes that three quarters of clubs and late-night venues will be forced to permanently close without proper financial support. They also say the government’s furlough scheme and grants are not sufficient for big night clubs, where costs are much higher.