AUSTIN, Texas \u2014 Austin’s top-ranked LGBTQ+ bar for the past 15 years, Cheer Up Charlies, has been acquired by an investment firm expanding in LGBTQ+ hospitality and entertainment, joining a portfolio of iconic LGBTQ+ brands.<\/p>\n
Pride Holdings Group announced the acquisition on Tuesday, stating it marked a significant step in the company’s national expansion strategy to build a leading network of LGBTQ+ entertainment and destinations across the United States.<\/p>\n
Founders Tamara and Maggie Lea will remain in leadership roles to ensure a seamless transition while maintaining the bar’s community-driven identity.<\/p>\n
Maggie expressed excitement about joining Pride Holdings, stating, “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\u2019t wait to grow the brand all across Texas!”<\/p>\n
Cheer Up Charlies, known for its vibrant community and inclusive atmosphere, faced a potential lockout on Sept. 1 after falling behind on rent during what management described as a slow summer with declining weekday foot traffic and rising operational costs. But they successfully raised enough money to cover back rent <\/a>and avoid closure after launching an emergency fundraising campaign<\/a>.<\/p>\n