Sydney’s Carriageworks has stood down half of its core staff and called in the administrators as it struggled to secure funding.
KPMG restructuring partners Philip Quinlan and Morgan Kelly were called in last week, according to reports in The Sydney Morning Herald, with sources saying the decision followed a lack of commitment by the NSW government to guarantee regular grant funding due in July.
Carriageworks said the Covid-19 restrictions has resulted in the cancellation or postponement of six months of activities resulting in an “irreparable loss of income”.
“The Carriageworks board regret that this action has had to be taken,” chief executive Blair French said. “They are mindful of the impact of this situation upon independent artists and partner companies across the performing and visual arts at a time when the effects of COVID-19 related closures have made this sector so vulnerable.
“The board remain hopeful that the Carriageworks facility will be able re-open to artists and community alike once NSW emerges from the effects of the current pandemic.”