NME - New Order buying Factory

NEW ORDER are attempting to buy Factory Communications’ 50 percent stake in Manchester’s Hacienda club and the Dry Bar.

The deal would turn the Manchester band into the biggest single shareholder in the two concerns.

Band frontman Barney Sumner said they have invested much of their income from New Order in the club.

“We have more of an input than we'd like because we’d all just like to be musicians," he said. “But there's so much money in the Hacienda that if someone was to make a mistake we could lose every penny we’ve ever earned

Peter Hook said the band, who were with Factory for 12 years before signing to London Records in January, are attempting to put together a deal involving unnamed former employees of Factory.

The future of both the Hacienda and the Dry bar has been unclear ever since Factory closed in November. New Order played a part in deciding to close the Hacienda for six months last year because of gang violence in Manchester.

See page 5 for full New Order story.