PRYZM boss says changing student habits contributed to nightclub closures
Nottingham’s PRYZM was one of 17 Rekom-owned nightclubs to close earlier this month
The boss of PRYZM has revealed that changing student drinking habits contributed to the closure of 17 nightclubs earlier this month.
At the start of February, PRYZM and Atik owner Rekom confirmed the closure of 17 venues, including the PRYZM here in Nottingham.
Rekom chairman Peter Marks has since said that cash-strapped students are spending less on clubbing, resulting in less revenue for venues.
He told the BBC: “The cost of living is singularly the biggest issue that we face. A lot of students who used to be paying, say, £800 a month for their accommodation, have been facing [higher rents of] £1,200 a month.
“Obviously people still like coming out, [but] if money is tight [they] are coming later, so they’re arriving in our doors later and they’re spending less.”
Marks also said that Rekom has to contend with rising bills and wages.
“For every £100 pounds we take, we are spending between £30 and £40 on wages,” he said.
Nottingham’s PRYZM, in Lower Parliament Street, played a major role in the city’s nightlife scene for eight years.
The future of the building has not yet been confirmed.