London's The Social reaches fundraising goal in less than a week

Last week, The Social launched a campaign to raise £95,000 to save it from being turned into a cocktail and wine bar chain, after owners were struggling to meet the demands of rising rents.

The threat of closure arrived ahead of the venue's 20th anniversary. The money raised from the CrowdFunder will allow owners to take the property off the market and buy a controlling share from the leaseholder to prevent closing its doors.

The Social had announced a couple of shows with Shame and Yak, and an intimate performance from Fatboy Slim next week to help save the venue.

Having raised the £95,000, The Social has extended their fundraising campaign to £150,000 to put towards "essential bar improvements and give us time to effectively plan how to finance the next twenty years of the Social."

In their statement, they add, "We’re not asking for donations. Rather, we will be adding incredibly generous rewards given to us by friends of the bar or dreamt up by us."