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Shock as Crystals and The Exchange to close

 
Created on 18/10/2017 @ 12:11
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Two of Newtown's main entertainment venues are to close by the end of the year, with business rates and changing consumer demands being blamed.

Crystals will close by the end of the year while The Exchange public house will close at the end of this month.

The shock announcement was made today. It is understood it doesn't affect the Regent Cinema which will remain open.

The lease for both venues has come to an end and the management say they are not renewing the leases.

"It is with regret I announce The Exchange public house of Broad Street, Newtown, Powys will close its doors after 28th October 2017. Crystals nightclub will continue until the end of 2017 before it too closes its doors," said Luke Orehawa, Managing Director of Severnside Leisure Ltd which operates both venues.

“We have come to this very difficult decision as changing consumer demands coupled with increasing operating costs make the existing use of this very large Grade II listed building unsustainable.

"Business rates set by the valuation office have been a major contributing factor to our decision. After contesting the rates for five years, the valuation office, through in-action, have failed to assist in keeping over 30 jobs alive in the town centre. Recent changes in the business rates system have recently seen our rates rise considerably and have forced us to this decision. 

"Both Renney and I would like to thank you for all the support of the years of customers and employees past and present. Whilst Crystals doors will close after 30 years, we will be putting on a jam-packed two months of events, allowing us to reminisce our many popular nights and we would like you all to join us."

Crystals nightclub opened 30 years ago this summer and has played host to many big acts, comedians and DJs along the way.

The Exchange public house opened 18 years ago and has been the home of live bands in the area, the host of a popular weekly pub quiz, and proud of its food menu and carvery. 

Luke Orehawa and Renney Baynes are both directors of Severnside Leisuire Ltd, parent company of The Exchange and Crystals nightclub. 


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