An uncertain future lies ahead for one of Bristol's biggest nightclubs after its parent company announced plans to stave off bankruptcy.
Pryzm in Canon's Road is owned by the Deltic Group, the UK's largest nightclub operator, which has suffered a huge financial hit with its venues being closed for more than seven months.
The group, which is now seeking a buyer, has already cut 1,000 staff and repurposed parts of its clubs as bars in a bid to ensure its survival, reported The Guardian, allowing it to reopen 10 per cent of total floor space.
Pryzm's Bristol club, which before lockdown had a capacity of 2,600, reopened on October 31 as a sit-down venue, but it will close once again on Thursday (November 5) when the second national lockdown comes into effect.
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Deltic Group's chief executive, Peter Marks, said the scaled-back operation was bringing in £80,000 a month, compared with the £1m that the company is burning through - leaving it facing running out of cash by December.
Marks told The Guardian that a lack of financial support from the Government had "slowly choked us to death".
In an official statement, a spokesman for The Deltic Group said: "The unprecedented impact of the COVID-19 pandemic on the UK’s late-night sector has been well publicised.
"Deltic’s Board of Directors is working with advisers BDO to assess all options available to the company, including the possibility of bringing in new equity partners.
"Deltic also continues to participate in discussions with the Government regarding potential further support for the late night sector during this difficult period."
