Climbing arena loan write-off put on hold
FINANCE chiefs have postponed making a decision over writing off a £230,000 loan used to prop up the loss-making Edinburgh International Climbing Arena.
The debt, which dates back to 2007, was set to be scrapped after a report declared it was “highly unlikely” the centre would make a profit in the foreeseeable future.
Edinburgh Leisure manages the climbing arena and is responsible for meeting repayments.
But councillors decided to delay a decision until a wider report into the debt and financial health of both Edinburgh Leisure and the facility is compiled. Councillor Iain Whyte said: “If we don’t go ahead [to approve the write-off] we are breaking a previous promise made by the council.”
The city’s culture and sport committee recently approved spending £940,000 on replacing the arena’s roof.
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Sunday 26 May 2013
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