Fringe operator ‘facing collapse’ over £1.5m debt

One of Edinburgh Fringe Festival's largest venue operators has warned it may not survive another year due to not receiving £1.5m owed to it by Coventry City of Culture Trust, which went into liquidation in February. 

William Burdett-Coutts, Assembly Fringe’s Artistic and Company Director, warned this week that the company is surviving on a short-term loan.

He said the organisation had worked for almost two years to deliver the Assembly Festival Gardens in Coventry during the City of Culture year in 2021, only to be left in a financial situation that “prejudices our entire future”.

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He first warned the company was at risk following the collapse of Coventry City of Culture Trust back in February, calling on Coventry City Council to “take responsibility” for the situation.

Speaking this week to BBC Scotland as the Fringe got under way, Burdett-Coutts said Assembly could be “dragged down in the trust's wake unless those responsible take action”, accusing Coventry City Council and the Department for Culture, Media and Sport of trying to "wash their hands of the situation”.

A ‘disastrous’ loss for the Fringe

“Assembly has been presenting shows since 1981 and is an integral part of the Edinburgh Festival Fringe,” he said.

“The company is of local, national and international significance working with arts organisations from around the world.

“We have played a significant role in the development of many world-class shows throughout the years and have helped launch the careers of countless household names, from Graham Norton to French and Saunders and many more.

“Assembly on its own plays to an audience equivalent to the live audience of Wimbledon and larger than Glastonbury – to lose that presence would be disastrous for the Fringe.”

He said that the outstanding debt had caused “a massive hole” in the organisation’s finances.

“We're a small organisation so it's not something we can absorb. So we've got to find some way and somebody has to take responsibility,” he said, adding that the organisation was in a “very precarious” position.

“We can get through this festival and look after everybody from this festival, but the next festival is in question. It depends on if we can find a solution,” he said.

A DCMS spokesman said Coventry had delivered a successful City of Culture programme that had helped the city secure £172.6m of investment, adding that the department continues to back the Edinburgh festival.

“At the spring budget we announced an additional £7m of support for this iconic event, which a number of partners, including Assembly, play an important role in delivering,” he said.

Coventry City Council said it agreed to be the accountable body for the City of Culture 2021, but that because it was not a guarantor it was not responsible for meeting any financial liabilities. It said the council was the largest creditor of the trust.