Abbey Theatre to have debt of €3.3 million cleared

THE Abbey Theatre is to have its massive debt of €3.3 million cleared by significant additional funding from the Department of Arts, it was announced yesterday.

The minister also announced €1.6 million in funding for the development of an arts centre in his home town of Cahirciveen in South Kerry.

Over €4 million will be channelled through the Arts Council to the National Theatre in order to pay for the Abbey’s restructuring costs and to clear significant losses which came to light last year after the theatre’s centenary celebrations.

The theatre had accumulated losses of €3.4 million last year, but half of a €2 million “stabilisation grant” from government went to clear some of that figure. However, with €900,000 projected loses for this year alone, the debt to be cleared amounts to approximately €3.3 million.

“The Abbey Theatre has faced serious challenges in recent times but new structures have now been put in place which will allow the Theatre to move forward,” Minister for Arts, John O’Donoghue, said.

Earlier this year, the century old National Theatre Society Limited, which ran the Abbey, was dissolved and a new Abbey Theatre Ltd was set up to run the theatre in a different manner, so that financial and other organisational problems would not be left to spiral out of control again.

A reformed board was also appointed, and it is expected to hold its first meeting in early January.

The new funds, released as a supplementary estimate from the Department of Arts, demonstrates the Government’s and the Arts Council’s commitment to a successful future for the Abbey at the centre of Ireland’s cultural life, the minister said.

Fiach Mac Conghail, Director of the Abbey, said the additional funding was a “massive vote of confidence” in the National Theatre from the minister.

“It will provide my team with the impetus to continue to create good theatre for Irish audiences,” he said.

A number of other arts organisations will also benefit from additional funding including €1.5 million to the Tipperary Excel Heritage Company, €1.5m to the Irish Film Board and €320,000 to the Belltable Arts Centre.

In all, the Minister will release €15.7 million in additional funding for arts organisations in Ireland.