A popular music venue in Rugby town centre has closed.
The Vault, in Church Street, has shut with immediate effect after failing to secure investment.
The team said it had been ‘an amazing journey’.
The Vault issued the following statement:
“The team at Vault have been in discussions with a number of parties with a view to securing additional investment in the business to enable a much needed premises refurbishment and alleviate some of the businesses historic financial challenges.
Unfortunately, despite the team’s best efforts we have been unable to secure the investment required to continue trading and the current financial position of the business has meant that we have had to cease trading with immediate effect.
During the previous 5 years we’ve shared some amazing times with the people of Rugby and attracted to the town a number of leading artists and delivered a number of innovative clubbing experiences.
It is our intention to continue to promote and develop the live music offering within the town, through our continued involvement in The Rugby Bike Festival, and The Rugby Music Festival. We are now actively looking for ways to continue to provide the industry standard levels of production that Vault has provided to other interested parties within Rugby and the surrounding areas.
We are actively working with a number of promoters to move all planned events to alternative local venues and we will process any applicable ticket refunds within the next 30 days.
We would like to whole heatedly thank all our customers who have helped cement Rugby’s place on the live music scene within the UK.
“It’s been an amazing journey.”