Fortesqueue's owner Scott Balfour said: "Sadly we have become victims of a deep recession. It has been so hard recently without the regular number of bookings for the festive season that you would normally have in at this time of year."
However, in a bid to save the events already booked at Room by the River, fellow agency The Concerto Group has stepped in to buy some of Fortesqueue's' assets, including selected fixtures at the venue.
It means Concerto has already saved two pre-booked events at the space, taking place next week.
Concerto marketing director Sam Gill added: "Our attention has now turned to discussing the delivery of the ongoing order book and we are hopeful that, with the continued support of our partners at the venue, we can continue the operation to deliver the remaining event programme that stretches into mid-January."
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