Campaign launched to save Hull nightclub The Polar Bear

The Polar Bear closed after two of the six companies making up UK event and venue management company, VMS Live, entered administration due to the impact of the coronavirus.

It meant the 600 capacity venue The Welly and the 200-capacity venue The Polar Bear, which VMS took on in 2018, as well as Hull Box Office, closed down.

A campaign is now continuing in an attempt to save the Polar Bear, with a crowdfund being launched to buy the venues assets and secure its future.

Jack Haines, a Liberal Democrat councillor in Hull, said: "We need to guarantee that the Polar Bear is saved and other areas of this economy are no longer at risk due to a pandemic out of our control."

The Polar Bear's management team is seeking to re-open its doors under community ownership by running it as a Community Interest Company.

A Community Interest Companies or CIC is a special type of limited company which exists to benefit the community rather than private shareholders.

To set one up, a legal promise is needed that the company's assets will only be used for its social objectives, and setting limits to the money it can pay to shareholders.

But with all the venue's assets going up for auction this week, the club's management team needs to raise £15,000 to buy its sound systems, DJ equipment, furniture, office infrastructure and polar bear statue.

A crowdfunder page has been set up at www.crowdfunder.co.uk/save-the-bear.