Fortune assets to be liquidated

Closed ... The Fortune Theatre. PHOTO: GERARD O'BRIEN
Closed ... The Fortune Theatre. PHOTO: GERARD O'BRIEN
Following the closure of the Fortune Theatre last month, the Fortune Board of trustees have voted to dissolve and liquidate all the theatre's assets.

At a meeting in the Dunedin Public Library last night, the trustees passed a resolution to dissolve the trust and appoint a liquidator to handle the theatre's assets.

The trustees also voted to retain the current board until the liquidation was completed.

The immediate closure of the theatre was announced on May 1 because it was no longer financially viable.

Chairwoman Haley van Leeuwen said it was a very difficult decision for the trustees to make and was not done lightly.

An auction for the theatre's assets, such as sets and production equipment, would be held, Ms van Leeuwen said.

It would be up to the liquidators to decide when the auction would be held, she said.

Other theatres and groups in Dunedin had approached the board about some of the items but an auction was the fairest way to part with them, she said.

Scott Muir was one of about 100 people at the meeting and said the value of the theatre's assets to the community far outweighed the small amount of money the auction would generate.

Mr Muir said his thoughts were shared by most of those who attended the meeting last night.

Add a Comment







Our journalists are your neighbours

We are the South's eyes and ears in crucial council meetings, at court hearings, on the sidelines of sporting events and on the frontline of breaking news.

As our region faces uncharted waters in the wake of a global pandemic, Otago Daily Times continues to bring you local stories that matter.

We employ local journalists and photographers to tell your stories, as other outlets cut local coverage in favour of stories told out of Auckland, Wellington and Christchurch.

You can help us continue to bring you local news you can trust by becoming a supporter.

Become a Supporter