Loan bails out Fringe
THE organisers of the Festival Fringe are to be given another loan by the city council in a bid to ease financial pressure.
The council first loaned the Festival Fringe Society 125,000 in December 2008 after its box office crisis left it short of funds.
The loan was repaid by March 2009 but in December 2009 the council agreed to loan it another 100,000, which was again repaid in March.
Jim Inch, director of the council's corporate services department, said that, while the society's cash flow situation has improved, another short-term loan will help it recover from the 2008 crisis, although it will be up to 75,000 that is loaned this year.
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Sunday 27 May 2012
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