Fabric deciding how to spend nearly £110,000 in funds from #saveourculture
After reaching an agreement with London authorities to reopen, the iconic Fabric nightclub has found itself with £109,594 from its #saveourculture fundraising campaign. While a definite spending plan has not been announced, the club said it plans to apply the money toward “worthy causes” within the dance music industry. One effort will including working to reform the Licensing Act 2003.
Fabric’s managing directory Gary Kilbey said “Our final financial statement shows a substantial overage of over £100,000 that we are currently discussing how to manage. This is in a segregated account and will be available to fund not only our ongoing attempt to reform licensing guidance, led by Philip Kolvin QC, but also to assist other industry associated causes. We’re looking at several ideas including charitable status or a Trust to ensure proper financial governance of this large amount which is currently in a segregated account and all details of it will be reported monthly.”
On January 6, 2017, the club will commence its reopening weekend with a Friends & Family party.