Mounting debt has resulted in the temporary closing of Lacey-Lou Tapas Lounge.
The venue, which opened April 5, 2014, has been unable to pay down its initial debt, despite hosting 550 events at its Broad Street location. An extensive renovation prior to opening sapped the operating capital, said owner-operator Natasha Grau-Ensminger.
“This whole year has been a struggle,” she said. “But the shows are paying for themselves.”
Lacey-Lou’s was home to up-and-coming musicians in the city, many of whom played the first concerts of their career at the by-donation establishment.
Grau-Ensminger unveiled a debt-reduction plan, one that may see the venue re-open June 1. Grau-Ensminger shuttered the business on May 7 to help curb the debt, which she is hoping to erase with $48,000 in contributions through a crowd-funding campaign at Indiegogo. “It’s not like we need the money on an ongoing basis to keep us alive,” Grau-Ensminger said. “We just need to get over this hump.”
Funding is needed to pay for essentials such as taxes and rent, Grau-Ensminger said. Lacey-Lou’s is currently under a lease agreement with the University of Victoria, which owns the building, she added. “We’re in constant communication with them. We’re doing our best.”
Lacey-Lou’s halted operations with four months of events on its live music calendar. Grau-Ensminger hopes that by finding a resolution, the venue will return to normal with local live music programming seven days a week.
“There are so many talented people in the city, but there are so few places to showcase them.”
For information on the Indiegogo campaign, visit igg.me/at/lacey-lou
