SEAL OF APPROVAL
Derby Playhouse bosses were waiting for
adminstrators to give the final seal of approval
on a new deal that could see the theatre
eventually come out of administration.
Having reached a deal with the Arts Council, the
Playhouse now need administrators Tenon to
approve the move.
Chief executive Karen Hebden said, "We are
expecting to hear from the administrators later
today that they are happy for us to proceed and
that we have a green light to move forward."
The Playhouse would then be able to move on with
a revamped business plan that could be put again
to creditors.
As only the Arts Council opposed the last plan,
it is hoped that remaining creditors will accept
a revised version and enable the theatre to come
out of administration. If that is the case, the
theatre will be able to reopen later in the
summer. (Source: Derby Evening Telegraph, May/08) |
DEAL
AGREED
A deal which would put the Playhouse back on
track to get out of administration has been
agreed in principle and is expected to be made
official.
The deal needs to be signed by lawyers on both
sides to make it official, after that, the
Playhouse board can work on its business plan to
get out of administration. (Source: Derby Evening Telegraph, May/08) |
DERBY
PLAYHOUSE TO REOPEN
Derby Playhouse will re-open in September after
creditors accepted the board's offer of a
£300,000 voluntary agreement to refloat the
company. It means that creditors all receive a
share of the £300,000, which has been put up by
investors.
The city council offered to pay £325,000 to buy
the assets of the Playhouse and liquidate the
company, but the creditors decided to reject that
deal as they would have ended up with less money.
The first show will be The Killing of Sister
George on September 13. (Source: BBC News, Jul/08) |
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DERBY PLAYHOUSE
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Board members at Derby Playhouse hope the
theatre could be out of administration by the summer
after the Arts Council suspended a demand for £1m of
funding to be returned. The Playhouse went into
administration before Christmas and a battle to save it
was launched by a consortium led by board chairman
Jonathan Powers. Their proposed rescue package was sunk
by a double blow from the Arts Council, which first
decided to not renew the theatre's annual grant and then
slapped in a creditors' claim for £1m. The Playhouse's
artistic director, Stephen Edwards, launched a High Court
battle to test the legality of the Arts Council's claim.
He has spent £25,000 of his own money on the case and
has now received the news that the Arts Council has
decided to back down from a court showdown.
He said, "That could give us the opportunity to
rescue the company in whatever shape or form that is and
secure all its assets." The original rescue plan
would have seen Brian Clough show The Devil's League and
Shakespeare's Hamlet staged by now, but without any grant
aid from the city. The plan would have been accepted at a
creditors' meeting in February if it had not been for the
Arts Council's intervention. The removal of the Arts
Council's power to force liquidation of the company will
enable a revised version of that plan to be presented to
all creditors. The theatre could borrow against the value
of its lease to kick-start its funding and it would then
hope that Mr Powers can persuade investors to stump up
cash once the company is out of administration.
The Arts Council said it had suspended its claim against
the Playhouse but reserved the right to resurrect it if
the theatre's plan for its revival fails. The Arts
Council has also issued a statement. It reads: "We
remain unconvinced that the rescue plan for the theatre
is viable but we have concluded that allowing the board
to present its case to the administrators and creditors
is a less costly route for public funds than pursuing a
court case at this time. We hope to reach agreement with
Mr Edwards outside of a costly court process but we are
not setting aside our claim. In the event of the company
going into receivership or liquidation we will pursue it.
Our priority, as always, is to ensure that the Derby
Playhouse site remains available for live produced
theatre."
Playhouse chief executive Karen Hebden said that a
settlement with the Arts Council would be "highly
desirable" but added that negotiations were at
"a delicate stage". Ms Hebden is hopeful that a
settlement will soon be concluded and then aims to work
on a business plan that she hopes will get the Playhouse
out of administration by the summer. She said, "If
we can reach a deal with the Arts Council we will have
two months to put a plan to administrators who are
continuing to pay the rent and look after the building.
If they are willing to back that plan, they will call a
second creditors' meeting and recommend it to the
creditors. Then we hope the creditors will back the plan
and we can move forward and open the building."
The Playhouse could be reopened in time for its diamond
jubilee in November, after the theatre's chances of
coming out of administration were boosted by the Arts
Council's decision to suspend its claim for a return of
£1m in funding. The theatre had launched a high court
action against the Arts Council's claim but is now close
to agreeing a settlement. That means that the theatre's
board have a chance to refloat the company and hope to
submit a plan to administrators that will be accepted by
the rest of the creditors. If all goes well the theatre
could be reopened by the summer.
The theatre's chief executive, Karen Hebden, said,
"It would be great to be staging shows again by the
autumn in time for the jubilee. If all goes well we will
be hoping to plan two or three shows - including a
Christmas show - but we will be looking for help, support
and interest from other people." Karen would now
like to hear from any amateur group that would like to
stage a production in either the main auditorium or the
theatre's studio, or anybody else who might like to make
use of the theatre. (Source: Derby Evening Telegraph, Apr/08)
Derby
Playhouse is planning to stage Peter Pan this Christmas.
Peter Pan will not be a pantomime, but an adaptation of
the original theatrical version of the story. It will,
however, contain songs and music and will feature
flying.It will be the highlight of a four-show, six-month
season that will start in September if the theatre comes
out of administration, as hoped, in the next few weeks.
Creditors are expected to back the plan to refloat the
Playhouse, as only the Arts Council opposed this option
at the first meeting earlier this year.
Playhouse chief executive Karen Hebden said, "The
creditors' meeting will be in late June or early July. We
are in the process of putting together a business plan,
which Tenon don't have to approve. It will be creditors
who decide whether to accept the cash we can offer them.
The business plan is really for the people who are going
to back the business. Part of that plan will be a season
of produced work." The Playhouse will have to
survive without subsidy but believes that it can thrive
on a combination of sponsorship, tickets sales,
co-productions and fund-raising.
Playhouse artistic director Stephen Edwards said,
"Christmas is the most important time commercially
and we have got to do better than we usually do.
Considering we already attract more than 100,000 people a
year and we are just a medium regional rep and the
Birmingham Royal Ballet only attracts 150,000 with all
its subsidy, just shows the size of the task. We will not
be a commercial company but a not-for-profit company with
no subsidy. Any profit will be recycled into the
business." (Source: Derby Evening Telegraph, May/08)
Derby amateur
drama groups are being asked to book now if they want
slots on the Derby Playhouse stage next year. If a
business plan bring the Playhouse out of administration
all goes well, the theatre will reopen in September.
After a six-month, four-show season, that will include
Peter Pan at Christmas, the theatre will be on offer for
co-productions, touring companies and amateur groups on a
first-come first-served basis. Chief executive Karen
Hebden wants to give Derby's amateur groups first call on
the main stage and Studio but says that time is running
out.
She said, "We are offering Derby amateur drama
groups first call from March to September. That will
probably change for the following year as we are getting
in late this time. The year after it will probably be
from the end of January to the end of August. We hope
that gives amateur groups plenty of advance warning
because we know they plan their shows well ahead but for
next year they must act quickly as we have weeks to put
this plan together so we need to know now. Our chairman
Jonathan Powers has written to Derby groups but if they
don't respond now they are in danger of missing the
boat."
She added, "Even if they only pencil things in we
need to know. We are giving them first call but if they
can't tell us we will have to make other plans. We can't
afford to do things like Hamlet without subsidy and
there's no time for enormous amounts of fundraising. The
idea is to do a smaller season then take six months to
fund raise to be able to do a big show the following
season."
The main stage will be available for hire from March 1 to
September 12. The Studio will be available from December
8 to August 16. As well as hiring out the theatre, Karen
and artistic director Stephen Edwards will be staging
four professional shows in a new season that, if all goes
to plan, will start in September. Three shows in the
season are yet to be decided but will not include the
Brian Clough comedy The Devil's League which was written
for Derby but was lost when the theatre went into
administration. (Source: Derby Evening Telegraph, May/08)
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