Jobs lost at Coventry City of Culture Trust as it enters administration

The Coventry City of Culture Trust entered administration on Tuesday

Fifty people working for Coventry City of Culture Trust have lost their jobs after it entered administration.

The trust was due to oversee a three-year legacy programme after Coventry's reign as UK City of Culture came to an end in May 2022.

On Tuesday called in administrators after facing weeks of financial insecurity.

The trust said it regretted the effect on staff, with 29 permanent staff and 21 casual workers made redundant.

The Local Democracy Reporting Service said The Reel Store, a permanent digital art gallery, could also close for good.

It was opened in May last year as part of the legacy project and has attracted thousands of visitors.

The Reel Store could permanently close unless a buyer can be found

The gallery will close unless administrators can find a buyer who wants to take on the lease and continue running it.

Since the trust went into administration all of its assets were put up for sale and most of its physical assets are held in The Reel Store.

Coventry's year as city of culture started in May 2021, after it was delayed by the coronavirus pandemic.

Coventry City of Culture Trust itself has not publicly spoken about the cause of its financial difficulties, however the Charity Commission has confirmed it will be examining the finances.

Coventry City Council agreed to loan it £1m last year and it has since been told this is unlikely to be repaid.

That loan proved a breaking point for some of the trust's partners, who ended their links with it as a result.

Administrators from Armstrong Watson were appointed on Tuesday after the board of trustees said they had failed to find solutions to its financial challenges.