Fifty staff made redundant as Coventry City of Culture Trust calls in administrators
The trust set up to support the legacy of Coventry's City of Culture has gone into administration.
The board of trustees released a statement today saying it was devastated at the news and was working to secure the future of the Trust's legacy programme.
They say they are regretful of the impact this will have on the organisations and businesses involved.
29 permanent staff and 21 casual staff have been made redundant.
Coventry was named the next city of culture in 2017 taking over from Hull.
The Trust's statement read: "Without the support of these people, we would not have been able to deliver the extraordinary yearlong celebration of City of Culture 2021.
"That wonderful year was delivered against all odds, and we could not be more proud of the City."
It continued: "We have not been able to find a solution to secure the future of the Trust.
"However, we have continued to work closely with those who had pledged legacy funding, to try to protect those funds for the city and its cultural organisations."
Details of these arrangements are expected to be clearer in the next few weeks.
The statement added: "Although the Trust’s activities have come to an end earlier than anticipated, Coventry’s year as UK City of Culture has had a huge impact on the city and its positive influence will be felt for many, many years to come.
"The legacy includes increased levels of civic pride, volunteering, and active citizenship, transformed public realm and cultural facilities and a strengthened and more connected cultural sector."
A spokesperson from The National Lottery Heritage Fund said: “We are saddened by the news regarding Coventry City of Culture Trust.
“Our £3 million funding enabled Coventry 2021 to give its communities the opportunity to become greener and more environmentally conscious. We hope a way forward can be found for the trust and would be happy to work with the City Council and others to support the legacy arising from Coventry City of Culture.”
The Reel Store, in Coventry city centre, recently hosted an award-winning digital exhibition featuring the work of Mexican artist Frida Kahlo.