The trustees in charge of the Centre for the Moving Image (CMI), the charity which runs the Edinburgh International Film Festival, Filmhouse Cinema in Edinburgh, and Belmont Filmhouse in Aberdeen, have appointed administrators.
The Edinburgh Film Festival , Filmhouse Cinema, and Belmont Filmhouse will all cease trading immediately.
A statement from the CMI said a "perfect storm" of rising costs and falling admissions numbers due to the pandemic has been exacerbated by the current cost of living crisis.
"The combination and scale of these challenges is unprecedented and means that there was no option but to take immediate action," the statement said.
Tom MacLennan and Chad Griffin of FRP Advisory have been appointed as joint administrators and they will work with Creative Scotland, the City of Edinburgh Council, and Aberdeen City Council to assess options for the future of the individual elements of the charity's work and supporting staff through the process.
It is expected that staff members at all three sites will be made redundant.
"We would like to put on record our immense gratitude to the entire staff team whose passion for film as an artform and for the audiences and communities we work with and serve has remained undented by the challenges of recent years. We're fully aware that this will be an exceptionally stressful time for them," the statement read.
The statement also cites rising energy costs and a steep reduction in public funding over the last eight years as one of its biggest financial pressures.
Head of Bectu, the union for the creative industries, Philippa Childs, said: "The creative industries were among the worst hit by the pandemic and the energy crisis is now crippling businesses and venues, with today's news showing only too well the devastating knock-on effects for workers. We urgently need a targeted, sustained support plan to help safeguard the sector and those who work in it."
The financial collapse of the CMI comes months after the Edinburgh film festival celebrated its 75th anniversary. This was the first festival under the new leadership of Creative Director Kristy Matheson. The CMI was established in 2010 to promote film culture in Scotland and run both the EIFF and the Filmhouse cinema and has been led by chief executive Ken Hay.
- Politics at the Berlin film festival
- German Love Triangle Squares off at Venice Film Festival
- Indie Film: Camden film fest lineup full of ‘heart and emotion’
- Indie Film: Short-film showcase puts females in focus
- Dieter Kosslick, the man behind the festival
- 42 must-see festivals and fairs in Alabama in fall 2019
- Film Interview: The War at Home
- Catalan parliament approves law for language quotas in film
- Digital cinema hits German movie theaters
- Berlin Festival Aims to Wipe Some of the Grime off Pornography
- Hollywood coming to Duluth for festival
- Berlinale Log: Festival Gets into Gere
- Reasons for rampage: German film asks what makes a student kill
- Fantastic Fest Honors Japanese Film Master Takashi Miike
- Festive season is top chance to get on the job ladder
- Bangladesh court bans garment factory disaster film
- How the Berlinale is integrating refugees
- French 'femme fatale' actress Jeanne Moreau dies, aged 89
- Your summer bucket list… the top 10 places you NEED to visit to make the most of the British sun while it lasts
- Germany Boosts Profile of Home-Grown Filmmakers Abroad
Edinburgh Film Festival & Filmhouse Cinema Owner Files For Administration have 546 words, post on deadline.com at October 6, 2022. This is cached page on Movie News. If you want remove this page, please contact us.