London music venue The Social saved by crowdfunding campaign

London music venue The Social saved by crowdfunding campaign

Popular London music venue The Social has been saved by a successful crowdfunding campaign.

The venue needed to raise £95,000 because of rising rent prices and competition from a cocktail bar put their future in doubt: “Rising rents and an offer to the building’s leaseholder from a cocktail and wine bar chain have put The Social under very serious threat,” the venue previously said in a statement. “The bar’s founders need to raise money to buy a controlling share in the venue from the leaseholder in order to keep The Social open.

The added: “Unless new investment is found in the next two weeks then the iconic venue will be forced to close its doors. We’re asking you for help.”

“We need to raise £95,000 ASAP as a down payment to get the venue off the market, save it from turning into just another bar and then kick start a second round of private investment so we can take full control of The Social lease and secure its long-term future.”

As support came from major faces in music, The Social reported this morning that their £95,000 target had been reached. “Holy shit – you’ve done it,” the venue tweeted

“You’ve helped us raise enough money to stop the imminent sale of the Social. We can’t thank you enough for believing in us.”

“We’re going to add a load more gigs, DJ sets and rewards from friends of the Social to the crowdfunder page,” they continued.

“Coming up very soon – the best Faber Social line up ever; the welcome return of Acoustically Heavenly and a return to the sounds of the Albany. Watch this space. We love you. WE FUCKING LOVE YOU.”

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