The Hollywood branch of the music venue Knitting Factory announced yesterday that it will not be renewing its lease in October of this year.
The music venue competition for the Knitting Factory on the west coast got too fierce. Because of it’s three different stages (as opposed to the surrounding, competing venues with their one stage to accommodate larger audiences), the Knitting Factory lost bids to host larger shows, the real money makers.
Knitting Factory president and CEO Morgan Margolis hinted to Variety that he is looking to open a new music venue (possibly again as a Knitting Factory branch) in Los Angeles. No details however have been confirmed.