‘Business as usual’ at Klute, but sale inevitable

Yesterday the listing went live on a property website, but surely Durham’s most legendary club can’t be for sale?

It looks like the future of Klute is only going One Direction.

The owners of ‘Klute’ have temporarily assured frequenters of the quaddie touting venue that ‘the sale process can take many months, sometimes years, so in the meantime it’s business as usual at Klute…we will give customers plenty of notice if the venue is indeed going to be sold.’

Matt de Leon,  public relations spokesman for PBR, explained that ‘selling it [Klute] could generate a large amount of cash, which could then be re-invested into other parts of the business…in-line with the board’s overall strategy of investing further in the company as a whole.’

Mr. de Leon also denied suggestions that the sale was due to financial difficulties at Klute and said that premises owners PBR ‘successfully completed a refinancing deal in February, which saw [their] debt substantially reduced.’ He cited the sale of Klute as a chance for PBR to ‘re-appraise and pro-actively manage [their] portfolio. To this end [they] are marketing some of our sites for sale to release money for either investment in other parts of the business or further debt pay-down.’

However, for passionate Klute-lovers there is still reason to fret. The Tab spoke to Ross Bettridge, the estate agent representing holding company PBR who said that “The sale went live yesterday…and this is one of 13 properties we’re selling.” Further, PBR could give no assurance that the new owners will continue to run the site as ‘Klute’ and said that ‘at this stage we do not know what use any potential new owners will give to the sites.’

Klute soon after it’s glamorous renovation, which could have been the final gamble for a bar on the brink.

Klute has certainly been through a lot in the last couple of years, from a dramatic takeover in January 2012 to £20,000-worth of vandalism last term. But it seems that, despite PBR’s calls for calm, the future of Durham’s cave of debauchery and cheesy music is worryingly uncertain.

For the latest on this story, keep checking our website.