Scottish Architecture Centre Seeks Bail-Out Options
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Scottish Architecture Centre Seeks Bail-Out Options

01 Sep 2009

Scotland's centre for architecture and design, Lighthouse, is trying to rescue itself from financial crisis after reportedly ending up with a £250,000 funding gap due to a drop in commercial income. The centre is engaged in talks with potential funders such as PricewaterhouseCoopers for

Scotland’s centre for architecture and design, Lighthouse, is trying to rescue itself from financial crisis after reportedly ending up with a £250,000 funding gap due to a drop in commercial income.

The centre is engaged in talks with potential funders such as PricewaterhouseCoopers for bail-out options.

Administrators are also considering turning the council-owned Lighthouse into a council-run business centre.

Earlier, about half of the Lighthouse employees were made redundant to stabilise the centre’s financial position.

The centre’s financial downfall was revealed last year after its Scottish Pavilion reportedly spent £100,000 over budget in last September’s Venice Biennale.