fbpx

PROFILE

MY SUBSCRIPTION

LOGOUT

x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

Koko closes while “structural issue” is fixed

Famed London venue Koko has closed temporarily for structural remedial work.

The grade II-listed Camden venue, which has a capacity of 1,410, closed on Friday 21 September and is expected to reopen in mid-October.

Koko spokesperson Larry Seymour says: “Our consultant surveyors recently made us aware of a structural issue within the building. The protection and well-being of our customers and staff is of paramount importance and we have therefore decided to close the venue while work is carried out.”

All promoters, agents and managers who had artists or events booked into the venue during the closure period have been notified.

“The nature of the work means that there is no alternative to a full closure”

“We place the utmost value on our relationships with our clients,” continues Seymour, “but we were unable to work around the diary. The nature of the work means that there is no alternative to a full closure.

“We offer sincere and heartfelt apologies to all our clients and customers who have been affected by the closure. Our contractors are working diligently and at all speed to ensure that we are able to welcome back a full programme of events as soon as possible.”

Upcoming shows at the venue included Peter Hook and the Light, Palaye Royale, Jilted John, Okkervil River and the Coral.

Koko has been owned fully by its founder, Oliver Bengough, since December 2016, following the purchase of a 50% stake formerly held by music video streaming platform LiveXLive.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

Bengough now sole owner of Koko Camden

Oliver Bengough, the founder of Koko, has taken sole ownership of the north London venue with the purchase of the remaining 50% of shares in owner/operator Obar Camden Holdings Limited (OCHL).

The 1,410-capacity venue – known as the Camden Palace until 2004, when it was purchased and refurbished by Bengough and his Mint Group company – was previously owned 50% by Bengough and 50% by Loton Corp.

As of 30 November, Bengough personally owns 100% of OCHL, following Mint Group’s pulling out of Koko in May.

“This marks a great day for the company and for the future of Koko,” he comments. “The well-being and continued success of this iconic live venue is now secured.”

“This marks a great day for the company and for the future of Koko”

Loton Corp is the parent company of live-streaming service LiveXLive, which in July acquired EDM ticket agency Wantickets.

Artists who have performed at Koko in its current iteration include Prince, Coldplay, Oasis and Amy Winehouse, while The Rolling Stones famously appeared at the then-Camden Theatre in 1964.

Koko posted a 2.4% increase in turnover in the last financial year (31 March 2015–31 March 2016), with an EBITDA (earnings before interest, taxes, depreciation and amortisation) increase of 7.2%.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.