Peebles theatre given £120k council bailout to keep doors open

Scottish Borders Council has used its emergency powers to award the Eastgate Theatre in Peebles an interest-free loan of £120,000.

It comes amid concerns over "cash-flow issues", which had led to staff consulting insolvency experts.

Today's meeting heard the resignation of a previous manager had meant many grants the theatre is eligible for had not been applied for, and Tweeddale councillor Drummond Begg added a decision not to assist would "almost certainly" have led to its closure.

A report due to be presented to councillors in private today (Thursday) was made public on the request of former local authority convener David Parker, who said it was entirely appropriate when one public body was funding another.

In a statement posted on its Facebook page last month, a spokesperson for the Eastgate Theatre said: "Staff are working hard on forward planning a programme that will maintain and improve the Eastgate’s excellent record of stability, alongside managing a busy cafe where turnover shows marked year on year improvement.

"After several months without focussed fundraising activity we are in the process of submitting a number of grant applications to support the business plan."

More to follow...

For more stories from the Scottish Borders and North Northumberland, bookmark our new home page - https://planetradio.co.uk/greatest-hits/borders/news/