On July 11, the owners of King Cobra—a nightclub specializing
in hard rock, punk, and metal on East Pike Street on Capitol
Hill—announced that they were putting the club up for sale after
just six months of operation. In an e-mail, King Cobra co-owner Jamie
Garza attributed the abrupt decision to financial and managerial
mistakes and a lack of marketing for the club.
Filling up the 475-capacity venue the duo built from the ashes of
Kincora Pub, which was demolished for a condo development, was a
concern from the start. After all, the venue is right across the street
from Neumo’s, a well-established club, and just four blocks from Chop
Suey, another popular venue. Previously, the space was home to Sugar
nightclub, which closed after two major shootings.
“We went through some hard times with booking and promoting,” Garza
acknowledges. “Some of our early shows were amazing, but [we] didn’t
get the crowd we needed.”
Low attendance sometimes led to uncomfortable situations—like
when the club was forced to waive the cover charge for a May 5 show
headlined by Blackie, a Blondie tribute band, when only a handful of
people showed up. Commenters on Line Out, The Stranger‘s music
and nightlife blog, accused the club of failing to pay the band. The
situation was eventually settled—according to co-owner Che
Sabado, the band was paid—but it served as an indicator of the
managerial and promotional problems the club faced in its initial
weeks.
As Garza and Sabado’s financial issues snowballed, it became
increasingly difficult for them to control the club. Garza says he lost
a considerable amount of money on the stock market, and was pulling
longer shifts at the Bellingham oil refinery where he also works to
keep the club afloat. Finally, it became clear to both partners that
they couldn’t keep the club running on their own. “We understand that
most businesses will lose money during the first year,” said Garza.
“Problem was, we didn’t have the cash reserves to cover that.”
Garza said, “It’s not our choice to sell,” and both partners insist
that the sale has more to do with their own financial situation than
with the club’s shaky beginnings. They hope the club will continue to
operate with its current staff and concert calendar intact. 