THE company which brought some of the biggest names in music to Liverpool before they were famous has gone into liquidation.
Lomax Entertainment ran two nightclubs, a recording studio and a dance academy but has had to close.
But a senior source close to Lomax Entertainment last night told the Daily Post there was a "strong possibility" the Lomax club could reopen in September.
The source said the company's debt was around £300,000 and that it had property assets of £1.5m which could pay the debt.
Begbies-Traynor, based in Liverpool, is handling the liquidation. It puts the amount owed to creditors at around £700,000.
The Lomax employs 45 staff. Bands such as Oasis, Radiohead, The Verve and Catatonia played their first Liverpool shows in the Lomax, which started as an attic venue in Cumberland Street.
As well as being a haven for local talent with weekly showcases, the company quickly built a reputation for bringing the best new bands to Liverpool.
Fees varied from band to band, depending on the promoter, but, because of the venue's size, they never got more than a few hundred pounds. Oasis shared £100.
It provided many special nights from its opening in November 1993 to its farewell party on Sunday, February 20, 2000.
The club then transferred to L2 in Hotham Street, before again moving, in April 2002, to the courtyard area of the Nation club.
Lomax Entertainment has been forced to close that base in Wolstenholme Square, its Performing Arts academy and recording studios in Great Croshall Street, and its concert venue in Stoke-on-Trent.
Students attending the Lomax academy will finish their courses at Liverpool Community College.
Trevor Burke, chairman of Lomax Entertainment, said: "In the end we discovered that we had run out of money and I wasn't willing to put more cash in. I have put substantial sums in already over the last few years.
"It is a shame that this has happened - we did this very much in the spirit of Liverpool doing something great."
Lomax fame school principal Carol Jay, who helped launch the careers of pop stars' Kym Marsh and Atomic Kitten singer Natasha Hamilton, said: "It has really upset me and the students."
Student Kate Ingle, 18, said: "I cannot believe they have done this without warning. It is a brilliant college and I would not be doing so well if it wasn't for the set-up here."