Bad but also good news... Profile bar is no more from the end of April. You may recall it opened in 2007 as a joint venture between Gaydar and bar operating group, VMPG and was soon followed by Lo-Profile the club. Word on the street is that VPMG, like many bar franchise operators, is over leveraged with debt, hit by property hell and the recession across its portfolio of bars.
Lo-Profile, the club wlll now be taken over by Gaydar and stay open. We reckon this is great news. Big corporates running bars and clubs is fine when it's tacky "Cheers" themed hell or a Planet Hollywood. Their massive expansion into every corner, fuelled by the property boom pricing every smaller business out, was very damaging. What comes next for Soho and the rest of the scene we don't know tho.
They say: QSoft Consulting Ltd, owners of the Gaydar brand and Vince Power Music Group (VPMG) have ended the joint venture that previously owned Profile and Lo-Profile. VPMG will continue to operate Profile Bar on Frith Street until April 30th 2009 after which time it will cease trading as Profile. Lo-Profile, the nightclub at 84-86 Wardour Street, W1 – remains open and is now wholly owned by QSoft Consulting Ltd. Details of a new Gaydar venue will follow in a separate press release.
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