“We merely can not afford the monetary actuality of this trade”

The Paragon nightclub in Brooklyn, New York is to shut down because it “can not afford the monetary actuality of this trade” in 2025.

• READ MORE: 2023 was “worst 12 months for venue closures” whereas “nobody in music trade appears to care”, say MVT

The operators of the Bushwick venue made the announcement on social media on Wednesday (January 22), with the multi-tiered house anticipated to close its doorways for the ultimate time in April.

“It’s with deep disappointment that immediately we should ship the message of Paragon’s conclusion,” they wrote on Instagram. “After nearly 3 years of working a venue with among the world’s greatest individuals we merely can not afford the monetary actuality of this trade in 2025 and will likely be closing our doorways this April.”

“We wish to thank all of our supporters for the reminiscences and the friendships. We wish to thank all the artists that graced us with their magic. Most of all we wish to thank our coworkers who usually went far past their job descriptions to make desires come true.”

Paragon, which opened in 2022 additionally stated that their enterprise is now up on the market, as is the 5000 square-foot premises’ sound system.

“If anybody is excited by buying (or investing) be happy to succeed in out. Please take into account swinging by to pay your respects. We’ll miss you all,” they concluded.

Earlier than closing its doorways, Paragon is about to host occasions by artists together with Particular Request, SoFTT, Aurora Halal and UNiiQU3. See the total checklist of remaining reside occasions here.

It’s simply the newest venue to succumb to the immense monetary pressures dealing with the reside music and nightlife trade around the globe. Within the UK, a report from the Evening Time Industries Affiliation (NTIA) discovered that UK clubbing could possibly be “extinct” by the top of the last decade.

The figures revealed that 37 per cent of all golf equipment throughout the nation have completely shut since March 2020 – a median of three golf equipment per week and 150 per 12 months. If the pattern continues, all areas within the UK can have closed their doorways by December 31, 2029.

Final summer season, the NTIA additionally shared that, of the 480 nightclubs that have been closed between June 2020 to June 2024, 67 befell between December 2023 and June 2024.

Earlier than then, the affiliation revealed that 31 per cent of nightclubs within the UK have been pressured to shut final 12 months, and in August 2023, the affiliation shared that over 100 unbiased nightclubs throughout the UK have been pressured to close their doorways completely inside simply 12 months.