The Administrators of North Devon Theatres’ Trust are pleased to report that they have now completed the surrender of the leases of the Queens Theatre in Barnstaple and the Landmark Theatre in Ilfracombe to the Council.
At the same time, the Council have purchased those assets that were clearly the property of the Trust and not a part of the leases. These assets were sold for £24,000, which was more than the Administrators could have expected to realise from an off-site auction of those assets. Taking these steps means that both Theatres are now returned to the control of North Devon Council, with all their assets intact and on site.
The Administrators are not involved in the future plans for the two theatres, and all enquiries about this should be directed to North Devon Council.
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