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Established in the 1930’s.  From their own website: A well-known basement music hangout of the 1930's.  Featured in Anthony Powell's novel 'A Dance to the Music of Time".  WW2 the club was used as a public air raid shelter.  For 6 months from February 1948 The Downbeat Club met here every Sunday afternoon.  1960s: "... one of the music venues that formed part of the swinging sixties scene in London – being a popular venue for some of the famous names of the period.  The Bag O' Nails was run by two brothers Rik and John Gunnell, who had been part of the club scene and made a name for themselves by launching this new venue for up and coming names of the 60’s with live music."   Many famous names from the 60s are given at the website.  The club was relaunched in 2012.