The superclub, which opened two years ago, recorded losses of about £1m in its first year accounts while its owners Matter London Ltd had around £3m worth of creditors.

Transport issues over the past year caused by London underground tube improvement works have reportedly exacerbated the 2,600-capacity venue's problems with clubbers experiencing difficulty in getting to and from The O2 late at night.

The owners say the club will reopen later this year, but with no date specified for a ...