Exeter Northcott theatre goes into administration

PUBLISHED: 16:45 25 February 2010 | UPDATED: 00:59 16 June 2010

EXETER Northcott theatre has gone into administration after trustees discovered it was insolvent.

EXETER Northcott theatre has gone into administration after trustees discovered it was insolvent.

It was announced today that trustees decided they had no alternative after they were presented with financial information this week.

But they are talking to Exeter City Council and the University of Exeter to look at ways of continuing the use of the theatre to benefit the local people.

Chairman of the trustees Geoff Myers said: "We took this decision with a heavy heart, but when presented with the latest financial information we had no choice but to place the theatre into administration.

"It is hoped that a way can be found to effect a rescue of the theatre. In the meantime, I would encourage theatre-goes to continue to support the Exeter Northcott in the knowledge that those who book their tickets while the company is in administration will, in the event of any performances being cancelled, be issued with a full refund."

But he said anyone who had bought tickets before today was an unsecured creditor.

He added: "However, if we are able to ensure that productions do take place as planned, it is hoped that all existing obligations to ticket holders will be honoured.

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