The decision was made at a board meeting held last night, and comes after losses mounted at the Glasgow arts centre and a crisis business plan put together to rescue it failed to generate enough cash.
At the end of last year, The Lighthouse made six redundancies and reshaped its gallery space as part of a new business plan to secure its financial future.
This was in response to a projected annual shortfall of £300 000, which came after the Six Cities Design Festival, managed by The Lighthouse, was cancelled, and losses were incurred in mounting the Venice Biennale project.
Eleanor McAllister, chairwoman of the board of The Lighthouse Trust, says, ‘It has been a heartbreaking decision for me and the board to bring in the administrators.’
Speaking of the crisis package, which required The Lighthouse to generate significant commercial income, she says, ‘The extra income we needed from rents, grants and conferences and events just did not materialise as businesses, organisations and charitable trusts cut back on their activities when the credit crunch hit and the recession deepened.
‘The Lighthouse, already in a vulnerable position and with no reserves to call on, has not been able to rally.’
The board will now work with the administrators, Glasgow City Council, and the Scottish government to protect the future of The Lighthouse’s Charles Rennie Mackintosh building and protect some of centre’s key activities and exhibitions. The Lighthouse will remain open for business while this position is assessed.