Sheaf St, a music venue based in Leeds, has closed down citing a combination of the cost of living crisis and developments in the local area. The venue announced its permanent closure with immediate effect this week, explaining that its ‘double down’ strategy to increase event bookings had failed to offset the wider impact of the economic climate. In their statement, the team behind Sheaf St said they were “truly proud of” the events they had curated but lamented that the “world is not on our side right now”.
Sheaf St is located in the industrial area of Leeds and has become a popular destination for the city’s thriving arts, music and creative scenes. The closure of the venue comes at a time when many small businesses are struggling to keep afloat in the city. While Sheaf St did not specify the exact nature of the cost of living pressures it has faced, the venue has faced stiff competition from increasingly gentrified areas in Leeds, which have brought a rise in rent prices.
The venue was committed to supporting grassroots culture in Leeds, hosting a range of exhibitions, record fairs, workshops and community events. Its closure has been met with widespread disappointment from many musicians, local residents and industry bodies in the city. Despite the closure of Sheaf St, Leeds retains a vibrant arts and music scene and there are plans for new venues and creative hubs in the city in the coming years.
Sheaf St is not alone in the struggle to protect local businesses during times of economic strain. In the UK, small and medium-sized enterprises (SMEs) are responsible for over 60% of employment and make up 99% of all businesses in the country. However, many are struggling, particularly in the wake of the Covid-19 pandemic. While the UK government has provided some financial support to businesses during the crisis, more will be needed if local and grassroots businesses are to continue to thrive amid higher costs of living and increasing competition
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