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News - 25 March 2009
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The venue ran into problems last year when a £160,000 Arts Council grant was withdrawn.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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