Pryzm Portsmouth: Founder unsurprised by nightclub demise as cost of living crisis stops student nights out

Dave Joyce, a well-renowned DJ on Express FM, founded Pryzm in Stanhope Road in 2017 - when the venue was previously known as Liquid. The club closed with "immediate effect" on February 2 after parent company Rekom UK called in the administrators to restructure the business. In total, 17 nightclubs and bars across the UK were axed after administrators at Grant Thornton UK LLP branded them financially "unviable".

Mr Joyce said the cost of living crisis has not only caused ballooning energy costs and landlord rents, but had a dramatic effect on the student market. He told The News: "The writing has been on the wall for a while. It's not surprising. The bottom has fallen off of the student market. It’s a national problem." The experienced club manager said Pryzm was popular before the pandemic, but the overall nightlife scene never recovered from the disruption caused by it. He sees larger venues running into more problems in the future.

“I just don’t see many 2,500 capacity clubs being sustainable," he added. "It leaves Portsmouth with a dispersing market. When you consider what is out there, Portsmouth is so diverse and not like other cities like Southampton where everything is centralised in one place." Mr Joyce said due to nightlife hotspots including Palmerston Road, Osborne Road and Albert Road, Southsea - as well as Gunwharf Quays - being so numerous in the city, there is only so much room for large scale venues. Alistair Ritchie, owner of Astoria in Guildhall Walk, said the club has been busy despite the challenges in the sector.

Mr Joyce added that the economic climate has hit students incredibly hard, and given all the options available to them, constant nights out might be a thing of the past. He said young people who have spoken to him said they have less disposable income, so choose smaller and more affordable venues such as One Eyed Dog in Elm Grove and The Fox in Albert Road.

"Students may have full time jobs alongside their studies, and many have changed their habits," he said. "The new gym at Rivelin is packed. Most 18 to 21-year-olds pre-drink more, as it’s not cheap to go out. The days of students going out a minimum of four nights a week have dwindled. Clubs are going to concentrate on the big nights and popular ones might have one big night during the week. One type of music won’t pull people in at the moment. People haven’t got the answers."

"The amount of pubs that are going on the market is very high, unsustainable clubs will follow this trend. They may come back, but who knows." A total of 471 people lost their jobs due to the nightclub closures. Chairman Peter Marks previously said hundreds of jobs were saved new buyers were found for 11 venues. Mr Joyce said companies like Rekom UK will only keep profitable nightclubs, with any others being cut, and with the cost of living crisis hitting older demographics, businesses may need a rethink.

"Nightclubs will have to look at how to use a building on more than Friday and Saturday night. Bottomless brunches have taken a surge and people are looking for alternatives."