The Point Cardiff Bay Limited, trading as The Point have today filed for voluntary insolvency.
The popular live music venueÂ and club night host has been open since 2004 and has been largely successful, despite being located away from the city centre.
Since opening The Point has played host to many popular artists and bands including the Stereophonics, Cerys Matthews and Feeder. The venue also played host to the popular fortnightly rock night Bogiez, which moved there from The Engine Rooms.
The venue closed in late 2008 to undergo soundproofing after complaints from neighbouring residential buildings.
The bill for this work,Â in addition to factors owing to the current economic climate have made it necessary for the directorsÂ to file for insolvency.
This is not the first time that this venue has been hit with problems. ItÂ was previously known as MS1 until 2003 when insolvency brought about a buyout by a partnershipÂ that was to become the Point Cardiff Bay Limited.Â
Future gigs and events have been cancelled and ticket holders have been advised to contact their credit card companies for refunds, this unfortunately will not cover customers who have paid for tickets using debit card or cash who will unfortunately lose the money that they have spent on tickets.
There is currently no news on whether scheduled gigs and club nights will be moved to other venues.