IT’S not OVER it starts NOW
Soon, as a society, we will begin phasing out of lockdown and into some semblance of normality.
This however is not the case for the hospitality industry.
We are facing an unprecedented situation, and no-one is able to make a prediction on how long it is going to last, and how deep the impact will be upon culture.
Our doors may re-open soon enough, but this doesn’t mean it is the end of our struggle, quite the opposite. For us the struggle really will start now.
This Crowdfunder has been created so we can subsist and to financially assist all the people that make the live music, DJ parties, movie screenings, comedy nights…all the many different type of events we host, possible.
So if you have enjoyed THE VICTORIA and its contribution to the arts and to music over the past 35 years and if you can afford it... please help.
You will be providing very much needed help to our staff, suppliers, promoters, artist, bands, event programmers, cleaners, producers, DJs, door security, designers, sound engineers, curators, maintenance contractors, chefs, book keepers, photographers, mixologists, copy writers, gardeners and all of the other people that contribute to our industry.
At JAGUARSHOES CO. we are a fully independent family owned and run business and in our 20 years in the industry we are experiencing the toughest fight we have faced yet. As an events venue we will and are doing everything in our power to find the ability to continue supporting all the people in our ecosystem.
Your donations will be used...
- 75% to pay the currently accruing debt on all basic fixed cost while closed, including rent.
- 25% will be distributed to all the promoters and freelancers and third party staff that were programmed to be employed during the period of closure.
WHY?
Our venue faces closure because, in simple terms, just like every bar, pub, restaurant in the country, THE VICTORIA operates a 'very high overhead vs. very high turnover' business model.
So in this situation we have been very much cut adrift economically speaking because we have been unable to trade since March 17th 2020.
For the dry insight into why as a venue we face closure...
- All businesses (aside from a few large PLC’s) are not covered by their insurance for a pandemic, standard insurance policies do not provide this cover and claims that are being refused due to case law.
- Almost all businesses in London are NOT eligible for the £25k Grant; they fall above the rateable value threshold of £51k this is the case at THE VICTORIA.
- Government assistance for staff wages only covers payroll staff, so the large number of contractors our business services are not included.
- The proposed government backed loan scheme is for all intense and purposes redundant to most hospitality businesses. The coding in Boris' sound bite "Loans for 'good' businesses" translates like this... 'good' in that context means 'no-risk' businesses. So far our experience with the application process has been as officious as any standard credit application. The banks are being asked to carry 20% of the risk up to £250k, so they are rejecting the vast majority of applications in the first few rounds.
- To date landlords have not been provided any concession on commercial mortgages (unlike buy to let and domestic mortgages). So they are demanding rent.
If we hit our target, we can prevent the closure of our business.
WHY SMALL VENUES MATTER...
BECAUSE WITHOUT GRASSROOTS VENUES like The Victoria the UK music industry and UK culture will suffer immeasurably.
We are conducting a series of interviews hosted by George Godfrey from Radio X. Interviewing the many artists that have played in our venue and discuss the current climate, these are very insightful into why small venues are so important.
You can listen and watch our interviews on Short Waves Radio JAGUARHOES here: jaguarshoes.com/radio