Regional Insolvency….
Yesterday’s news that Exeter’s Northcott Theatre has gone into administration, after the theatre ‘s trustees discovered that the venue is insolvent, opens another chapter in the long-running saga of its difficulties. During the controversy of Arts Council England’s proposed spending cuts in 2008, it stood to lose its entire £547,000 grant, even though it had just re-opened after a £2.1m development scheme.
That decision was subsequently reversed, as reported here, “under the condition that the venue make urgent changes to its theatre programme and community work.” ACE South West’s executive director Chris Humphrey was quoted saying, “Northcott has been working hard to develop a business plan and artistic vision worthy of the level of investment we are making. This means that we are now confident that we are investing public money wisely. Over the next two years, the Northcott Theatre and the people of Exeter and further afield will benefit from this funding which will enable the theatre to present a wide range of exciting theatre.”
Oops. He clearly spoke too soon.
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