Administrators have confirmed that hundreds of people who bought advanced tickets from Taunton's Brewhouse Theatre won't be getting their money back.
The Brewhouse closed without warning in February after 35 years as an arts centre. Fifty staff lost their jobs. This afternoon administrators said there would be no cash available for unsecured creditors.
Taunton Deane Borough Council is hoping to take over the building.
Councillor Ian Morrell has welcomed the councils decision to try to reopen the Brewhouse but has also said caution is needed:
– Cllr Ian Morrell, Taunton Deane Council
It is good to now see the Council commit to reopening of the Brewhouse. However caution must be exercised to ensure the public purse isn't burdened with unsustainable financial liabilities. Therefore before the doors should reopen, further work is clearly required to identify cultural requirements of possible theatre users together with the on-going economic viability._
Taunton Deane Borough Council has voted unanimously to try to buy the leasehold for the Brewhouse Theatre.
The venue went into administration in February. Final Bids for the theatre must be put forward by Friday and we understand one offer from the council has already been rejected.
Administrators for the Brewhouse in Taunton say there has been "encouraging" levels of interest in the theatre and its facilities.
It comes on the day Taunton Deane Borough Council discuss making a bid for the theatre.
– Simon Girling, from administrators BDO
We can report that from a comprehensive marketing campaign we have received encouraging levels of interest in the theatre and its facilities.
It's our overriding desire to treat all interested parties fairly and give each the opportunity to promote their interest to offer.
The Administrators can confirm that they have to keep the detail and status of interested parties confidential.
After 12 April we will be carefully evaluating all proposals on their merits and ability to be delivered.
Taunton Dean Borough Council will discuss making a bid for The Brewhouse Theatre today.
It would not mean the authority would take on the running of the theatre though.
The public arts and performance hub went into administration in February leaving more than 50 members of staff redundant.
Taunton Deane Borough Council is setting aside £35 thousand to help the Brewhouse Theatre, which closed last week. Campaigners fighting to get it re-opened lobbied councillors last night.
The extra cash will be spent on maintaining the property, legal fees and getting advice on the types of arts projects that could be held there in the future. and comes on top of 152 thousand pounds already allocated to the theatre in the Council budget.
Campaigners fighting to get the Brewhouse Theatre in Taunton re-opened are lobbying Councillors tonight.
The theatre closed last week, making 55 people redundant. The Leader of Taunton Deane Borough Council, Councillor John William, says he is committed to finding a sustainable future for the Brewhouse.
Former employees of the Brewhouse Theatre in Taunton are urging people to attend a full council meeting tonight to speak out about its closure.
The Somerset venue went into administration last week making more than 50 members of staff redundant.
Supporters say anyone who "cares' about the effect it will have on the community should have their voice heard