One of Sydney’s foremost arts institutions, Carriageworks, looks set to emerge from the ashes like a phoenix following a last minute reprieve.
Back in May the institution went into voluntary administration after being hit hard by COVID-19 and suffering a “significant reduction in revenue streams’. At the time the organisation owed over $2 million to 225 creditors.
Late yesterday (Friday, July 10) Carriageworks was handed a multimillion-dollar lifeline from a group of philanthropists. The group of 15 donors was led by Geoff Ainsworth and wife Johanna Featherstone, Kerr Neilson, Michael Gonski and The Packer Family Foundation.
Minister for the Arts Don Harwin paid tribute to the generous philanthropists who have committed to ensuring the survival and the artistic vision representative of the Carriageworks arts precinct.
“We are delighted with this outcome. We would like to thank the wonderful donors who have so generously contributed to the continuing future of Carriageworks.” Mr Harwin said. “At the heart of it, we are excited for the resident companies of Carriageworks who will also greatly benefit from this announcement.”
NSW government agency Create NSW has committed to a 10-year lease and a five year funding agreement with Carriageworks Ltd.
Moving forward Carriageworks will enter a tough climate for the arts, where they must adhere to a COVID Safety Plan consistent with NSW Health guidelines that will likely impact crowd numbers.