Sale of Austin Queer Bar Cheer Up Charlies Called Off
The planned takeover of the struggling LGBTQ+ club Cheer Up Charlies by Pride Holdings Group was canceled on Tuesday, confirmed by one of the bar's owners. The Florida-based investment firm will no longer acquire the beloved Austin queer bar.
Details of the Cancellation
Bar owner Maggie Lea informed KUT News that both parties “amicably agreed to part ways.” She stated:
“Both parties have rescinded, and Pride Holdings is no longer involved in Cheer Up Charlies. Our membership interests have been returned and we (Tamara Hoover & Maggie Lea) remain owners of Cheer Up Charlies.”
Lea added, “I have nothing bad to say about them. It just didn't work out, you know?”
Corporate Response and Community Reaction
Pride Holdings Group did not respond to multiple requests for comment and removed a press release concerning the acquisition from their website by Tuesday afternoon.
The announcement last month that Cheer Up Charlies was being sold to an out-of-state corporate entity shocked the local queer community. This came shortly after the bar raised around $60,000 in donations to cover back rent. Many felt that corporate ownership conflicted with the bar’s identity as a safe space for queer Austinites.
Management and Financial Plans
The canceled deal would have kept Lea and Hoover as managers, while Pride Holdings Group took over the club’s struggling finances.