Proud2 Goes Into Admin

The O2’s joint venture club run by AEG Live and Proud Group appears unlikely to reopen after temporarily losing its license following a stabbing incident Sept. 2.

Although Greenwich Council has subsequently restored the O2 club’s license, Proud2 Limited began an administration process under the 1986 Insolvency Act Oct. 17 and followed up by announcing a creditors meeting through the London Gazette.

Even with the license restored, the club has shown no sign of reopening and there are no upcoming events on the Proud2 website.
Neither Proud2 nor AEG Live has made any statement on the club’s future and it’s so far not clear what effect its closure would have on the rest of Proud’s London empire, which includes a few club spaces and galleries.
Two years ago, when club group Fabric 591 Limited tried to launch the same venue as Matter, it was also plunged into administration and left the parent company on the brink of collapse.