Campbell Dallas pair appointed Arches administrators
Derek Forsyth and David Hunter, partners at accountants Campbell Dallas have been appointed joint administrators of Arches Theatre and Arches Retail Company Limited, which operate the famous arts and entertainment venue located in Glasgow city centre.
Founded in 1991 as a direct result of Glasgow being named European Capital of Culture, The Arches is a multi-function arts, music, entertainment and café/bar venue.
The Arches developed a unique policy of helping new and emerging artists gain valuable experience and employed 133 full and part-time staff. The Administrators will now undertake a thorough review of the companies’ affairs.
It has emerged since the closure of the venue that Police Scotland had requested The Arches turn off its club music every hour and install five minute breaks, with the house lights up.
The Arches fate was sealed when the Glasgow Licensing Board, responding to concerns about the venue from the national police force, removed its late licence making the running of its dance clubs impossible.
Almost 40,000 people signed a petition calling for the reinstatement of the venue’s licence calling on the government and creative bodies to ensure The Arches remained as an arts venue.
Mr Forsyth, head of business recovery and insolvency at Campbell Dallas said: “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. We have already contacted various funding partners and stakeholders to consider all options going forward and to see whether elements of the business may be resurrected. The Arches is an internationally recognised brand and we would encourage interested parties to make contact as soon as possible.
“The prospect of job losses has been well documented, and it is with great regret that we have had no option but to make 129 members of staff redundant with immediate effect. A small number will be retained to assist with the administration. We will work with relevant agencies to provide as much support to the affected staff as is possible.”