BAILIFFS have moved in to close down a city centre bar.
The Point in Holmeside, once home to the ABC Cinema, was relaunched as a nightspot in 2005 following a £5million revamp.
A further £2million was put into the business last year by Amazing Leisure, which renovated the venue.
At the time, the company said it hoped increase the workforce from 70 to 170.
However, a forfeiture notice has been placed on the doors of the bar by Parkinson Bailiff Services Limited on behalf of the landlord, listed as Golftee Nom A and Golftee Nom B.
A management firm was also employed to deal with the building, which had Union nightclub, Purple and Velvet Lounge bars inside.
The Echo made repeated attempts to contact Amazing Leisure, but found its telephone number no longer works and its website is down.
Messages left for the owners also went unanswered.
Other bar owners in the area hope new operators for the venue can be found quickly to ensure their businesses and other night time traders in the city centre do not suffer.
They have heard the cleaners were asked to leave the building by bailiffs when they arrived one morning to take charge of the building.
John Dickman, who is redeveloping the former Chase site into a new venue due to open later this year and also owns Gatsby in the street said: “We have been working closely with the man who had been running it and I’ve spoken to him and I didn’t have a clue, or he didn’t let on.
“It was a surprise but I understand the pressure he must have been under to run the place, it’s hard and the costs can be astronomical.
“It’s good to have a circuit and people now want to spend an hour in one or two bars and then move on and they like them to be close together.
“We don’t want this to be closed for any length of time.
“I think it would be a great place if it was something like the O2 Academy in Newcastle with live music.”
Venue bosses in Park Lane are aiming to create a “golden square” by offering drinkers a series of places to visit on their evenings out within a short distance of each other.