Nottingham show bar set to close after money runs out

A bar and restaurant in Nottingham’s Lace Market looks set to close after owners ran out of cash.

Loom on High Pavement only opened last October, but has been closed this week with its Facebook page deleted. When TheBusinessDesk.com tried to contact Loom, the calls went unanswered and emails bounced back.

The Loom was opened last October by Vesper TPG, headed by young entrepreneur Poseidon Kumar and his father Pradip Kumar, who took on a 15-year lease for the historic building in High Pavement after a deal completed by Nottingham property consultants Bruton Knowles.

The idea behind The Loom was that it would double up as an entertainment venue with live shows taking place on a purpose-built stage so guests can listen to music or watch a show while they dine and drink.

However, on 22 June Poseidon Kumar set up a GoFundMe page asking for investors in The Loom. The statement on the page read: “I am one of the owners of a beautiful and hard built show bar business called The Loom, based in Nottingham.

“The business was set up by myself and my best friend of 14 years over a year ago with it being in operation for a total of just over 6 months. Our intention was to create a hub for young and inspiring artists as well as local talented people to have a place where they could grow their talents and really aspire to be the best they could.

“Setting up our business in Nottingham came with a lot of hardship in the form of having relentless landlords who broke their promise to reduce the rent following our struggles in the first few months of establishing the place and getting it out to the wider public.

“We have come a long way in 6 months, having developed great relationships, and given so many people a real chance to showcase their talent and have a chance to make it in the big world.

“We are now at a stage of closing due to a lack of funds to pay salary and rent. It is a real shame due to the endless hours we worked on the business, having many sleepless nights and continously keeping a positive view.

“Whilst we knew the risks we were getting into, it’s a shame that the thing that is going to close the business is not a well recieved concept, but that our creditors could not keep their word.

“I find myself here now as a last resort to save the business as well as the futures of the staff who have worked tirelessly to make The Loom a real thing by reaching out to the kindness in people that I know is in all of us to help give this place another chance.

“If you could come and see for yourself, we built this place with our own hands and a lot of precious memories have been created.

“We want to continue giving people a chance and to really let people be involved in something two guys came together to selflessly create.

“Due to the short time span and dire situation, we would need to raise the target within 3 weeks.

“Every little may help to give us another chance, and we would in return invite you to see what we have built and really understand why this place is so worth saving. This isn’t just coming from me and my longest friend, it is coming from all the people who have developed an emotional connection to the place, with many calling it their second home.

“I’m not reaching out today for us, I’m reaching out today for all those who have worked so hard to make this place a reality and to not let it go down in flames.

“I thank you in advance for taking the time to read this and for any amount that you can pledge to save a wonderful idea that has become The Loom.”

The Loom employed 17 people when it opened.

The building, which had most recently been home to the High Pavement Business Centre, has a 19th-century jacquard loom still intact in the basement, which was used a focal point of the bar’s interior.