Southbank Centre cancels all events from this autumn to next spring and expects to go through all of its reserves and the rest of its annual Arts Council England grant
The Royal Festival Hall at South Bank Centre, London. Source: Wikipedia
London’s Southbank Centre, a cultural complex on the Thames River, is unlikely to reopen until April 2021 due to financial problems caused by the COVID-19 crisis, Artforum reports.
The cultural quarter houses the Arts Council Collection, Hayward Gallery, the National Poetry Library, Royal Festival Hall and eight orchestras. Southbank Centre is one of the UK’s largest arts venues.
Southbank Foundation runs the complex and gets 60% of revenues from ticket sales and other other on-site commercial activities. According to the Evening Standard, the foundation’s losses will exceed $6 million by the end of the fiscal year.
Southbank Centre cancells all events scheduled between this autumn and next spring and expects to soon go through all of its reserves and the rest of its annual Arts Council England grant.
The institution seeks immediate government relief and an extension of the federal furlough scheme, which pays furloughed workers 80% of their monthly wages up to $3,000 until October. About 7.5 million people depend on the programme, according to the BBC.
“We join a number of other organizations and venues in sounding the alarm about the long-term health of UK arts and culture,” said Elaine Bedell, Southbank’s chief executive. “We hope that we’ll emerge from this crisis to an even brighter future, throwing our doors wide open once more.”
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