But new deal 'secures its future'

Bristol’s biggest comedy club, Jesters, has called in the administrators – 16 months after expanding into a new building.

But its directors insist its future as a live comedy venue has been secured after they set up another company to manage the venue, which will now live music as well as stand-up.

Jesters first opened in 1995 and has played host to the likes of Bill Bailey, Peter Kay, Catherine Tate, Matt Lucas and Russell Brand.

But last year it opened in a listed former cinema close to its original home, after spending £500,000 and eight months refitting it. At the time, Jesters owner David Trew said of his new home: ‘It should really put us in the premier league of UK comedy clubs.’

However the financial burden of keeping up with the interest payments became too much, and the company called in the administrators on May 28.

Trew admitted the expansion produced ‘a debt servicing requirement that became untenable when the recession came into full force’, and now he has set up a new company, Cheltenham Road Entertainment, which has bought the Jesters name and the building.

The club\'s new board of directors include comedian Lee Hurst, who previously owned the Backyard Comedy Club in East London – until he closed it unexpectedly just before Christmas 2007.

The Bristol site will continue to trade as Jesters until October 1, when it will be relaunched under a new name as a combined comedy and live music venue.

Trew said: ‘Having spent 14 years building up the Jesters brand, it wasn’t something I was willing to give up without a fight, though at times, that certainly looked like the easier option.’

He added that with bar sales in decline, it was unviable for venues to survive on weekend trade alone – as most dedicated comedy venues have to. ‘The days of large scale venues that survive on stand-up comedy alone are numbered,’ he said.

‘With this in mind, our new company will focus on comedy and live music in equal measure. As such we have a full time music director and are upgrading the in-house PA

‘We will be launching an entirely new brand for the venue, whilst keeping Jesters Comedy Club as a brand within the new brand,. We will be running live stand-up comedy on Fridays and Saturdays throughout the year, while the rest of the week will be dedicated to all genres of live music.

‘In general terms, we have a new and highly motivated management team, and from a personal perspective, I haven’t been this excited since I set up the original Jesters in its first shabby little venue just across the road in 1995.

‘This is an outstanding result for everyone involved with Jesters, and bodes very well for a bright future.’

He said no staff have been laid off and only two comedians are owed money, which he is ‘in the process of’ settling.

Jesters’ current building opened in 1914 as The Cheltenham Cinema, and was also known as The Academy and The Plaza. The cinema closed in 1955 and the building became The Christadelphian Hall for 40 years before a brief existence as a Wetherspoon’s pub called The Magic Box.

Until it moved venues, Jesters was doing well, with property assets of more than £1.2million

But it is not the only club to be hit by the current downturn. Although boasting thriving audience numbers, Brighton’s Komedia had to strike a deal with creditors after running up debts of more than £300,000, while shares in Jongleurs owner Regent Inns is preparing to de-list from the Stock Exchange as its share languish around the 1p mark, valuing the entire company – which also owns Old Orleans and Walkabout – at less than £1.4million.

But not all is gloomy. Last year takings at the Comedy Store increased more than £500,000 to £6.3million and profits were up, so the four directors – including boss Don Ward – shared £527,000.

Published: 9 Jun 2009