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They are still “seeking to protect other venues” with the money raised…

fabric has issued its first transparency statement since striking a deal that allows the club to reopen with the Metropolitan Police and Islington council at Highbury Magistrates Court on Monday 21st November.

In their fifth statement since the Farringdon venue launched its #saveourculture campaign last month (October), Gary Kilbey, fabric’s managing director, outlined how the money will be used to help “worthy causes” in the nightlife industry. fabric’s appeal fund has raised over £328,000 since it was launched.

“We envisage having a substantial surplus due to the overwhelming support that's been shown to us and these residual funds will be used to help other worthy causes within the industry,” Kilbey said in the statement. “Including Philip Kolvin QC's pursuance of licensing reform which is he currently championing,"

fabric had previously outlined how their appeal – which was originally set to take place on Monday 28th November but will no longer need to go ahead after this week’s agreement – aimed to change law and guidance on licensing in order to stop “injustice” happening to venues in the future.

Kilbey confirmed fabric are still “seeking to protect other venues from having expensive legal proceedings brought against them until every other avenue has been exhausted.” Adding, “Closing a premises should be a last resort and this is what we are still working towards.”

The money will also be used for a new piece of art at the club, that will “cement” the part contributors to the #saveourculture fund have played in fabric’s history. No further details were provided but Kilbey said donators should watch their inbox.

The news that fabric is set to reopen earlier this week was met with a hugely positive response from the dance music community, with Annie Mac, Eats Everything, Daniel Avery, Goldie, Heidi and more all taking to social media to express their delight. That was before the Mayor of London, Sadiq Khan, said he is “delighted” that fabric is set to reopen.

Rob McCallum is DJ Mag’s deputy digital editor. Follow him on Twitter here.