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Dateline: 7th June, 2007
Another Bristol Cash Crisis Hard on the heels of the shock announcement that Bristol Old Vic is to close its doors because of a major cash crisis, comes the launch of a fundraising appeal by the city's other major theatrical player, the Tobacco Factory. It follows a similar appeal by the venue's resident company, Shakespeare at the Tobacco Factory which itself was threatened with closure last year due to financial problems. The theatre has an annual turnover of nearly £1 million. More than two-thirds of its funding comes through ticket sales and audiences. It receives a small amount of support from Bristol City Council and is applying to the Arts Council for additional funds. The theatre is now looking to public bodies and businesses to help meet the financial shortfall. Helen Palmer, Chair of the Tobacco Factory Arts Trust, said, "We are in a state where we need money right now. "We have put out this appeal not only to ensure that we survive but also to be able to continue to offer the quality and diverse work for which we have become so well known. We have no reserves and are just trying to put the situation right. We must become more sustainable to be sure of staying here." Last year poor box office receipts for the Shakespeare at the Tobacco Factory company's production of Titus Andronicus put the company into the red, threatening it with closure. A major fundraising drive was launched which successfully raised the cash to enable the company to carry on operating. Pete Wood
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