independent

Sunday 20 August 2017

TLT needs to raise €800,000 or risk closure

The TLT needs to raise €800,000 or risk closure.

In a letter to patrons, Tommy Leddy has urged support for a new advance ticket purchase scheme.

He says the banks wish to appoint a receiver to sell the buildings.

'If this occurs, the new owners would demand an unsustainable rent which would ultimately mean the closure of the theatre. The sum of approx.€800,000 is needed to purchase these buildings,' he states.

They are proposing to ask regular theatre-goers to purchase €500 worth of tickets in advance to ensure the future of the theatre and raise the money needed.

'In return you will get €600 worth of tickets. (Your €500 purchase can be redeemed as follows: After one year €50 can be used, €50 can be used on the second year and the remaining €500 can be used at €100 per year for the next 5 years, €600 in total.)

'Once the €500 has been received before the 30th May, this entitles the Patron(s) to be entered into a Special Draw for 2 tickets to every show at the TLT for the next 3 years. You will be entitled to 10 tickets to this free draw. This prize is valued at €7,800 and these tickets are transferable.'

All monies received will be lodged into a separate bank account and will be overseen by two Independent Trustees.

In the event of the theatre not being saved, all monies will be returned to the purchasers.

The Theatre was built in 2009 on the strength of the Mayoralty House (The old Sound Shop) which was valued at €6m, but, due to the recession, it was sold by the banks for as little as €250,000.

Drogheda Independent

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