London Pleasure Gardens ltd has gone into administration, a source close to the company has informed DJ Mag
The company operating the LPG site – a 30,000 capacity event location built on industrial wasteland at Pontoon Dock in South East London – ran into financial difficulties as a result of insufficient funding.
The Gardens, which played host to the well-documented failure of Bloc 2012 early last month, were originally scheduled to launch in April this year, however delays meant the official opening didn't take place until 30th June.
“In April early this year, the location was far from ready to open, so therefore the whole project had to be slightly rushed,” said Make, Moore & Groove's Dan Perrin who, while not directly involved with the logistical direction of the project, took charge of bookings for the site. “Their initial intention was to build slowly towards bigger events through a series of industry, cultural and community events but this was not possible in the time available.”
Following Bloc's cancellation at 9pm on its first day, which resulted with the liquidation of the event's holding company Baselogic last month, LPG struggled to retain the promotion teams booked for the rest of summer while limping to satisfy its projected financial forecasts, resulting in staff redundancies earlier this week.
Adding to this, while London Organising Committee of the Olympic and Paralympic Games (LOCOG) projected the footfall for the site to be around 30,000 a day due to the site's accessibility as an official pathway for attendees of the games, only a small percentage of this was realised, Perrin explained to DJ Mag.
The first party to relocate was Hypercolour with Groove Armada on 11th August (now planned for Suffolk St Warehouse) and, yesterday, Secretsundaze announced it would pull its Go Bang! party planned for August Bank Holiday. Promptly followed the resignation of a director at LPG ltd; then a decision to go into administration.
Words: Adam Saville
Pic: Beth Crockatt
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