“We will set out on a bi-weekly basis a schedule of receipts and payments.”
Fabric have raised £141,000 in the three day since launching their Save Our Culture fundraising campaign and now the club’s Managing Director Gary Kilbey has detailed exactly how it will be spent.
“Although Fabric is a successful business with financial provisions to cope with extenuating circumstances,” he writes in a new transparency statement, “these simply may not be sufficient to pay for an extensive legal battle and also to keep the club alive until a court hearing.”
In these incidents, the campaign will use the funds to keep Fabric in “hibernation” until the hearing while providing a bi-weekly schedule of receipts and payments. Other financial issues include the club’s insurance claim being challenged due to the wording of the Islington Council’s decision to revoke, as well as a depletion of funds following Fabric’s 2015 legal battle to challenge police use of ID scanners and drug dogs at the venue.
The statement also details Fabric’s legal arrangements, with Philip Kolvin QC (“widely regarded as the top licensing barrister in the UK,” Kilbey writes) to lead the legal team.
The lengthy statement also details in-depth Fabric’s strategy to challenge their license being revoked and, on a wider scaler, their aim to create a more positive image of clubs.