THE CHARITY which runs Penarth Pier Pavilion has responded to accusations it is nearing bankruptcy after years of uncertainty.
The art deco building had a £4.2m refurbishment in 2013, reopening with a cinema, cafe and gallery under the management of Penarth Arts and Crafts Ltd (PACL).
But all operations have now been suspended, with Waterloo Tea moving out last week – sparking rumours the pavilion is approaching bankruptcy.
Since March five directors have left the company – the most recent being Cllr Benjamin Gray. Two directors remain in place.
The most recent accounts for the 12 months up to December 2018, filed on Companies House by PACL in September 2019, revealed that the company was a “going concern” then.
“Conditions indicate the existence of material uncertainty which may cast significant doubt about the charity’s ability to continue,” it says.
A spokesman for PACL said: “The directors and trustees of PACL are aware of public interest and rumours concerning operations at Penarth Pier Pavilion.
“They are exploring options for the future of the pavilion and will make a further statement when circumstances allow.
“They have no further comment at this stage.”
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