Brighton Venues Under Threat
Two of Brighton's best-known venues are struggling with massive debts, it has been revealed.
The Komedia owes nearly £320,000 to businesses, including local promoters, food and drink suppliers, arts groups and magazines.
And the charity running Hove's Old Market complex has amassed £900,000 of debts.
Komedia's accountants are asking creditors be allowed to pay 33p for every pound they owe in an attempt to stay afloat. Creditors representing 75% of the debt must agree to the terms, or Komedia could be forced into liquidation.
“It is important for us to make clear we are still trading as usual, we are busier than ever and selling out most events," Richard Daws, one of Komedia’s six directors, told local newspaper The Argus, "We are continuing to operate but we are trying to establish a way we can move forward as a business.”
A million pound refurbishment followed by the withdrawl of the venue's 'Regularly Funded Organisations' grant from Arts Council England are reported to have caused the crisis. Arts Council England said Komedia had not been “fulfilling its role as an Arts Council regularly funded organisation.”
Meanwhile, Hove's Old Market is struggling with £900,000 of debt and has unveiled new plans to build rooftop penthouses to raise funds.
The building currently includes a theatre, recording studio, gallery space and offices. The venue is host to a range of arts, community and education events, including the Great Escape Festival and the Springboard Youth Arts Festival. It has recently staged gigs by Gomez, Supergrass, The Maccabees and The Long Blondes.
The designs penthouses for the Grade II listed building are by Nick Lomax, the architect behind Brighton’s award-winning Jubilee Library.