Over the years and through countless interviews with multiple players, various (and continuously escalating) numbers have been assigned to the debilitating debt of Factory Records storied (and long-gone) Haçienda club. Starting with a purported £1,000,000 loss bandied about following its closure in June of 1997, the "actual" number continues its slow yet-skyward march to permanent mythic status.

In a run-up interview to the publication of his forthcoming How Not to Run a Club book, Peter Hook reveals Haçienda debts infinitely more staggering than those previously acknowledged (or claimed). In a Haçienda world that seems to have more in common with Hollywood accounting practices than record labels & nightclubs, Hook now asserts that £20,000,000 profit + £10,000,000 loss = £30,000,000 debt.

Following on with this bizarre Fibonacci Sequence of ever-mounting debt history, we can fully expect a revised debt-load projection of £1 billion by the year 2012, and the retroactive blaming of the Haçienda for the current worldwide financial crisis.

Labels: Factory_Records, Peter_Hook

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