Sadler's Wells has issued a press statement following the Daily Mirror's claims this week that the theatre is in trouble. The newspaper claimed to have seen leaked documents which suggested that the theatre was close to going bust and that lawyers were in discussion about declaring the venue insolvent. Sadlers Wells' statement says that the article published in the Mirror was apparently referring to correspondence between the Arts Council's capital services department and its professional advisors. The correspondence concerned was taken out of context and arises from prospective litigation concerning some contractors and others. No public monies are being used in this prospective litigation, but the Arts Council and Sadler's Wells consider that the public interest requires that monies are recovered from those responsible for the overspending. Ian Albery, Chief Executive told PLASA Publishing: "Sadler's Wells was one of the first major lottery projects to open on schedule and has rightfully taken its place as London's dance theatre. It has brought international dance companies to London that have been absent for lack of a suitable theatre for many years and has created new and record audiences for dance at affordable prices in the last two years."
