London club FOLD faces closure following licence suspension
The club’s licence to operate has been suspended by Newham Council
London club FOLD has had its licence unexpectedly suspended by Newham Council.
In a post shared to Instagram this morning, the east London venue stated that its “license has been suspended and an immediate shut down of the club, without fair trial, has been imposed”.
FOLD are in the process of appealing the suspension, and hope to maintain operation this weekend, and for all future planned events,
FOLD opened in August 2018 between Canning Town and Star Lane, establishing itself as a prominent venue for London nightlife thanks to its 24-hour licence, a rarity for UK clubbing.
Read FOLD’s statement in full below.
Update: A report shared to Newham Council's website cites an ongoing investigation into allegations of fraud "relating to approximately £200,000 worth of material” in the club. According to the report, on 22nd October a search warrant was carried out at FOLD. "High value DJ equipment was seized (approx. £200,000) as it is believed to have been purchased with fraudulent funds," the report states.
According to the report, two arrests were made, one of which is the sole director of Artsintheeast Ltd, the premises' licence holder . Both persons were reportedly arrested on "suspicion of conspiracy to commit money laundering".
The National Crime Agency is leading the ongoing investigation.