London music venue The Troubadour almost closes!

London-based café and live music venue The Troubadour has been saved from closure by an existing shareholder, according to The Standard. The Earls Court venue, which hosted the likes of Bob Dylan, Jimi Hendrix and Adele over the years, was put in administration last month but has since been taken over by existing shareholder Giles McNamee.

The Troubadour’s previous owner, Susie Thornhill, who took charge of the venue in 1998 with her husband Simon Thornhill, will continue to run it day-to-day. No job losses are expected. “Nothing makes me happier than deepening my existing, long-term commitment to The Troubadour,” said McNamee. “Simon and Susie have done a wonderful job under exceptionally challenging circumstances at keeping The Troubadour open, authentic, and full of the spirit in which it was founded over 60 years ago. As anyone who has crossed the threshold of The Troubadour knows, the venue is rich in energy and inspiration and I’m thrilled to play a larger role now in its continuation and future health.”

Since opening in 1954, The Troubadour has become one London’s iconic live music venues. However, in recent years it has encountered financial troubles on account of a noise abatement notice that was issued in 2012, which led to the closure of its garden after 9pm.

The venue is just one of many across the country to have faced impending closure of late, with London’s Soho area having suffered greatly at the hands of extensive redevelopment and rising rental costs. Last month it was announced that a film charting the decline of the area’s musical heritage entitled The Demise of Denmark is currently in production.