THE “highest-grossing show” in Aberystwyth Arts Centre’s history was not enough for the venue to avoid major losses for the second year in a row, the Cambrian News can reveal.

The centre posted a near £200,000 loss last year, sparking fears for its future after the losses brought the overall black hole in the centre’s finances over the last decade to over £1.2m.

Last year, the university said it “remained committed” to the arts centre as its accounts showed the venue haemorrhaged £263,000 in 2013/14, but the latest set of accounts show the centre lost £197,000 in 2014/15. The loss comes despite the university saying that it hosted the “highest grossing show” in its history in summer 2014 when Sister Act came to town.

Speculation, unconfirmed by the university in August last year, was sparked that the centre was continuing to lose money even after a number of jobs at the centre were lost.

The university offered voluntary redundancy packages to several staff at the arts centre as losses mounted.

At the time, the university simply said it has “seen an improvement” in the centre’s figures - but accounts reveal that it has failed to break even yet again.

The centre last made a profit nearly a decade ago in 2006, when it brought in £20,000.

From 2004 to 2015, the centre has now racked up a combined loss of £1,258,000 — despite grant money from various bodies including the Arts Council of Wales and Ceredigion council bolstering the coffers by around £700,000 a year.

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