Gatecrasher are only leasing the club from the current Dutch owners, they don't own it outright. It's on a three year deal I believe
@stivi should be able to clarify that, but I believe it to be correct.
Simon Raine ran the brand into the ground. The Gatecrasher brand last year was at £3.5 million in debt to Barclays and HMRC (£3 million and £500k respectively) and Gatecrasher Birmingham was a further £2 million in debt, to contractors, banks, etc. I don't know about the other three venues they own (Bed Leeds, Bed Watford, Gatecrasher Nottingham).
Club Debt:
http://www.birminghampost.co.uk/bus...ecrasher-creditors-nothing-despite-2m-6754996
Group Debt:
http://www.morningadvertiser.co.uk/...-nightclubs-undergoes-pre-pack-administration
I think we'll see it come back as Eden. I wonder if the dutch owners will try again with another big promoter taking it over. Maybe someone with a better reputation. Someone mentioned Fabric, which would be a good idea. Or Ministry of Sound.