Galway nightclub lost €458,000 before closing

The firm that operated one of the best-known night-time entertainment venues in the country, the Central Park nightclub in Galway, recorded a pre-tax loss of €457,962 beforedeciding to close.

Accounts just filed by Central Park (Galway) show that the firm plunged into the red in the 12 months to the end of June last year after recording a pre-tax profit of €86,884 in 2011. The firm recorded the loss after its gross profit declined by 25% from €5.2m to €3.9m.

Following on the losses, the firm opted to shut down the nightclub subsequent to year end after 24 years in business and re-branded the venue as the Electric Garden and Theatre. The entertainment venue continues to include the highly successful Halo nightclub.