GLASGOW’S much loved The Arches are facing immediate closure after administrators have rendered 129 staff members redundant.
The cultural hub; which has been graced by some of the biggest names in music and other art forms, made the decision to undergo the administration process after receiving legal advice and a meeting of the board of directors.
Appointing Derek Forsyth and David Hunter of Campbell Dallas to undertake the task, they quickly made the drastic measure of such widespread job losses known to those in question.
Forsyth has said of the current situation: “The Arches was facing unsustainable cash flow problems and despite an immense effort by the board and funding partners it was clear that administration was the only option for the companies. As a result of an uncertain future income profile the venue will immediately close.”
Only four members of its staff have remained within a job in order to assist with the administrative process.
This announcement comes a month on from Glasgow’s licensing board preventing the venue from continuing to operate as a nightclub, resulting in the loss of a crucial revenue stream and left Glasgow’s clubbers saying farewell to a beloved institution.
However, not all hope is lost for The Arches to continue to operate as a music and arts venue, as Mr Forsyth has made it clear that “The Arches is an internationally recognised brand we would encourage interested parties to make contact as soon as possible.”
If this turns out to be the end, then we’d like to thank The Arches for the many great times that all of Scotland’s music loving inhabitants have had inside its hallowed walls. We hope that financial stability can be regained and that it can continue to act as an excellent venue within the city.
