Last week previous owners Missions Mars announced plans to close the venues permanently, citing the “backdrop of COVID-19 and the enforced closure of all of our sites and with continued restrictions upon opening of live music venues.”
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Tokyo Industries founder Aaron Mellor said that the group worked with SSD Concerts and The Charlatans' frontman Tim Burgess to come up with "some great ideas" to "help save both venues".
Staff at both venues will keep their jobs, and they will continue to operate “in much the same way as they have done in the past”.
"We’re not so keen on this ‘new’ normal and want to keep the ‘old’ normal alive for when we all get through this," said Mellor.
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Tim Burgess wrote on Twitter that the venues “been saved and will be kept as live music venues as we know & love them”, adding that “I’ve been talking with the new owners over the weekend & we’ll be doing all we can to help with the next chapter.”
Roy Ellis, CEO of Mission Mars, said: “It’s really great news for our teams and the music loving people of Manchester that both venues have found such a perfect new home.
"The bad news announcement last week regarding the closure plans galvanised an unprecedented level of interest from passionate operators from across the region and even beyond.
"I’m extremely grateful that we’ve been able to find a new and appropriate new home for these amazing venues and people.”
Patrick Hinton is Mixmag's Digital Features Editor, follow him on Twitter
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