THE ADMINISTRATORS’ first progress report into the collapsed Coventry City of Culture Trust will be released by next week.
The report, prepared by joint administrators Mike Kienlen and Daryl Warwick from Armstrong Watson, was submitted to Companies House on Saturday (September 30).
It is currently being processed and will be available for the public to view 10 days after it was submitted.
The Trust went into administration in February putting 50 people out of work, while its three-year legacy programme, intended to be an extension from Coventry’s City of Culture year, was scrapped.
The administrators were officially appointed on March 9.
A report published by the National Audit Office into the funding of Coventry City of Culture Trust in July revealed increased costs, below-expected income and an accounting error helped contribute to its downfall.
An administrator reports to creditors in writing every six months and at the end of the process, with this information filed at companies house.
This details what the administrator has done, what assets have been sold and to whom, the receipts and payments to date and the administrator’s fees.
The Observer contacted the joint administrators but they said they had no further comment to make other than what had been included in the progress report.
