News – No wind-up for NYMT

Following the sudden closure of its London office at the end of last month (ArtsProfessional issue 59, October 6), Dr Maggie Semple OBE, Chair of the National Youth Music Theatre (NYMT), has issued a formal statement to creditors on behalf of the company’s directors, citing “financial difficulties” as the reason behind their decision to close the office, make all staff redundant and cancel workshops.
According to the statement, “The company has been unable to secure sufficient funding to maintain a planned and historical level of activities”. No explanation has been given, however, as to why the company did not submit an application for core funding to a new fund financed by the Department for Education and Skills, Youth Music and Arts Council England. The directors have made it clear that they do not intend to wind-up the NYMT, but have resolved to put forward proposals for a Company Voluntary Arrangement which will “offer a return to creditors”.

A number of the company’s former staff have issued a joint statement saying that they “disagree with the Board’s analysis of the situation and its decision to close the company”, but they have been advised not to “make public any further details of matters that they have now referred to the relevant external authorities.” Their statement also refers to a “prolonged period of disagreement between the staff and trustees” prior to the closure, during which time many staff resigned and were not replaced. They have called upon the young people, their parents and freelance staff formerly involved with the company to support them, and have pledged to continue the work of the NYMT through other channels.