Insolvency need not bring down the curtain for arts organisations, says Ian Walker, who is working with the Exeter Northcott theatre.
No one would dispute the need for an arts organisation to be run like a business; it will not survive meaningfully in any other way. Theatres and arts centres get into the same financial difficulties as ordinary businesses: cashflow problems and, sometimes, poor leadership. Often, this will be combined with internal management conflict or systems which counteract timely and decisive remedial decision-making.
BUSINESS BANKRUPTCY
A business will become insolvent when it is either... more
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