Canning Town nightclub Fold loses licence - but will stay open while it appeals decision
- Credit: Archant
A Canning Town club faces closure after Newham Council stripped it of its licence following a National Crime Agency raid.
Fold, a 24-hour venue which opened just a year ago in Canning Town, was raided by officers investigating suspected money laundering earlier this year.
They confiscated £200,000 worth of DJ equipment allegedly purchased with fraudulent funds, according to a police report.
The venue was founded by Seb Glover and DJ Lasha Zhorzholiani in 2018. Both men were arrested on suspicion of conspiracy to commit money laundering during the October 22 raid but have not been charged.
Mr Zhorzholiani's barrister James Rankin told Newham's licensing committee that his client "bought the equipment with legitimate funds". But on Wednesday, December 4, the council revoked the club's licence.
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It has 21 days to appeal the decision.
Fold runs a strict "no photos" policy inside, opens for 24 hours at weekends and boasts a 110db sound system - the loudest in the capital.
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In a statement a spokesman for the nightclub said: "Whilst this is hugely frustrating, we can and will stay open whilst we appeal this decision. So this weekend and for the foreseeable future, it will be business as usual.
"All the support we have received throughout this difficult period, not only from our community but from the diverse members of the creative world, will not go in vain whilst we continue to fight our corner. We are confident that our appeal will be successful and continue to defend ourselves."
Fold, a 600-capacity venue based above a print factory, opened in August last year.
It has seen sets from techno DJs DMX Krew, Radioactive Man and the Body Hammer DJs since its launch. Events run for at least 24 hours on Saturdays, "until late" on Fridays, and with a 3am shut-off during the week.
The venue is also part of the Shapes Collective - a group fighting the closure of London clubs.
An NCA spokesman said: "We can confirm that on October 22, NCA officers conducted a search of Fold in Canning Town where some items were seized. Officers also arrested two men aged 31 and 33 on suspicion of money laundering. This activity forms part of an ongoing investigation and no further information is available at this time."