THE organisation which owns The Cellar venue has said it has an obligation to act in the best interests of the charities it supports.

There was uproar in Oxford's music scene when it was revealed that the popular basement venue in Cornmarket Street could close in early 2018 when retailer Lush, which sub-lets the basement as a nightclub venue, vacates its city centre shop.

After the move, St Michael's and All Saints' Charities, which owns the building, wants to change The Cellar to a retail space.

Rupert Sheppard, clerk to St Michael’s and All Saints’ Charities, explained that the organisation exists to provide grants and financial support for a variety of purposes, with most of its income distributed in grants to charities in Oxfordshire supporting the most vulnerable members of society.

He added: "The trustees of St Michael’s and All Saints’ Charities are active in their attempts to increase their income and as part of this, following advice received from their agents, the Trustees plan to carry out much needed alterations and improvements to 51 Cornmarket Street after Lush vacates early next year.

"Naturally the trustees have no wish to cause unnecessary upset to those who value the Cellar but it will be appreciated that they are under obligations to act in the best interests of the charities and their beneficiaries."

A petition to save the venue has more than 8,000 signatures.