Although security failures at the club were one of the contributing factors to the club eventually closing, the most likely cause was its finances. The club simply did not make enough money from the sale of alcohol, and this was mainly because many patrons instead turned to drug use. As a result, the club rarely broke even as alcohol sales are the main source of income for nightclubs. Ultimately, the club's long-term future was crippled and, with spiralling debts, The Haçienda eventually closed definitively in the summer of 1997. Peter Hook stated in 2009 that The Haçienda lost up to £18 million in its latter years.