Future of Portsmouth nightclubs Pryzm and Eden hangs in the balance as boss sends warning letter

That’s the warning from the chief executive of the Deltic Group, which owns the club brands of Eden and Pryzm in Portsmouth, as well as Oceana in Southampton.

Peter Marks wrote a letter this week to landlords across the country asking for a rent-free period that could last for several months.

The company is up for sale and could face collapse unless a sale is agreed soon.

The letter, seen by Sky News, is said to tell landlords that a rent-free period was needed as ‘no interested party is prepared to proceed and accrue a rental liability without the knowledge that long-term occupation of the property can be secured’ and that ‘without a successful sale, the business will have no option but to be closed’.

Deltic has 52 venues across the UK, which have been closed during the lockdowns. Nightclubs were able to reopen but only with a reduced capacity and in a socially-distanced way.

Mr Marks' letter insisted that once reopened the company would be a ‘viable long-term business’ - and that potential investors were not being put off by the fact that there is no set reopening date – but there would be staffing and other costs even though no money was coming in.

The company is privately owned by its management team, led by Mr Marks, and shareholders.

A Deltic spokeswoman said: ‘The Deltic Group confirms it is in negotiation with a number of its landlords to extend their rent-free periods as Deltic enters the final bid stage for the company.

‘It has received a number of credible offers and will provide an update in due course.’