The Gardner Street venue for comedy and music has come to an arrangement with its creditors which should ensure its survival.
As reported in an earlier story the venue held a crisis meeting with creditors to try to come to a voluntary arrangement, which would significantly reduce debts in excess of £300k including an outstanding demand from the Inland Revenue.
The venue ran into problems last year when a £160,000 Arts Council grant was withdrawn.
At a recent creditors meeting a five year plan to pay 55p in the £ was agreed and the venue’s immediate future is now secure.
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