AUSTIN, Texas — Months after avoiding a closure, popular Austin LGBTQ+ nightclub Cheer Up Charlies has been sold to a Florida-based investment firm.
The firm, Pride Holdings, specializes in LGBTQ+ businesses in the nightlife and hospitality spheres.
According to a press release, Cheer Up Charlies owners Maggie Lea and Tamara Hoover will still hold leadership roles with the business.
“We are beyond excited to join the Pride Holdings family, and enter into this new chapter of our existence. Being a part of Pride will help us find the long-term stability and provide the financial backing we’ve always dreamed of. We are thrilled to have found a team like Pride Holdings that aligns with our mission, and we also can’t wait to grow the brand all across Texas! With this transition, we will be able to strengthen our support for and to celebrate the diverse community of artists, nightlife performers, live musicians, and audiences that make Cheer Ups so special.” Lea said in the press release.
The Red River Street fixture has faced financial issues on more than one occasion. Most recently, it was at risk of a Sept. 1 closure unless owners were able to pay $58,000 in back rent. Community members rallied to raise more than enough funds to cover the amount owed through a GoFundMe fundraiser.
Now, the business is expected to grow its reach outside of Austin. Pride Holdings says it plans to open Cheer Up Charlies locations across the state, in Dallas, Houston and San Antonio, within the next two years.
“Cheer Up Charlie’s isn’t just a bar—it’s a symbol of community, resilience, and celebration, Barrett added. We’re honored to carry forward its incredible legacy while giving it the resources to grow and thrive. This acquisition reflects our commitment to preserving the soul of LGBTQ+ spaces while elevating them to new levels of visibility, impact, and profitability,” said Mike Barrett, CEO of Pride Holdings Group.