Exeter theatre enters administration

Exeter's Northcott Theatre has fallen into administration following a trustees' meeting on Wednesday evening, leaving a question mark over its future.

The Northcott, which is on the site of the University of Exeter, opened its doors on 2 November 1967, with Shakespeare's The Merchant of Venice. It has been serving up performances to east Devon's theatre-going public ever since, with the exception of 2007 when it closed for most of the year for a major £2.1m refurbishment.

The trustees of the theatre released a statement indicating that they had to put the theatre into administration as they had been, "presented with financial information this week which showed the theatre to be insolvent." Geoff Myers, chairman of the trustees, added that the decision had been made "with a heavy heart."

The theatre has been reliant on funding from the University of Exeter, various local councils and the Arts Council of England.

The Arts Council has voiced its disappointment over the decision, condemning it as premature. According to the ACE, things seemed to be ok until the end of last year when they received a copy of the theatre's quarterly accounts. However, they received word from the Northcott in late January that they were having difficulties and sent in an accountant to investigate, as well as advancing funding to help keep the theatre afloat.

It appears that the trustees made the decision to enter the theatre into administration before the accountant had filed his report. No wonder the ACE is not happy.