A “LEGENDARY” nightclub is set to close its doors for the last time today after 18 years leaving fans devastated.
The club has “played such an important” role in the area, according to fans.
The Wire in Leeds confirmed it was shutting for good earlier this year.
In a lengthy social media post, the club owners shared the sad news and confirmed the venue hosted its final party last night.
The statement read: “Since re-opening after the pandemic, the UK nightlife industry has been under immense pressure which we have not been immune to.
“The cost of living crisis and changing lifestyle choices coinciding with the looming commercial challenges unique to the venue has gradually led to the unavoidable outcome that the club can no longer operate as a viable business.
“Although the journey is about to end, we are grateful for the past 18 years.”
It went on to thank the venue’s “dedicated staff and security”.
Regulars of the club and former revellers were quick to share their devastation at the news.
One said: “Wow this is heartbreaking news.
“Thank you to everyone who manned the good ship Wire over the years.”
“Big loss,” another added.
“Amazing venue run by a good team.”
While a third commented: “End of an era.
“Wire was a room like no other, let’s put our energy into giving it the mother of all send-offs.”
And a fourth wrote: “Wire has played such an important and under-recognised, role in the cultural fabric of Leeds.”
High energy costs have crippled businesses and soaring inflation has seen punters cutting back on nights out.
Figures from Business Rescue Expert reveal the number of nightclubs that went insolvent in 2022 was 512, up from 280 the year before.
From January to June 2023, over 400 nightclubs were unable to pay their debts, just halfway through the year.
It comes after the date another venue owned by the UK’s biggest nightclub operator will close has been revealed.
And a nightclub for kids has been disgraced after cops claimed teens snorted cocaine and carried knives.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.