The Guild Hall is to officially go into administration.

Owner Simon Rigby made the announcement today after months of speculation about the future of the venue.

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Preston Guild Hall Ltd, which took over the running of the Guild Hall from the council in 2014, has today applied to the High Court in Manchester to be placed into administration.

But ticket holders for future events have been reassured they will be refunded.

Mr Rigby said: “PGHL has had to be placed in Administration and Licensed Insolvency Practitioner Bev Budsworth of The Business Debt Advisor will be appointed as Administrator with the aim to maximise the return to the company’s secured and unsecured creditors.

“For individuals who have purchased tickets in advance, we will be ensuring that they receive a refund if the show is not available via the new operator”.

“The administration strategy will be to agree terms with a chosen operator who will take over the running of Preston Guild Hall.”

Read more: Guild Hall is to be temporarily closed by Simon Rigby

Preston Guild Hall Ltd was in negotiations with VMS Live to take over the running of the venue, but after the sudden death of the owner, the Guild Hall closed its doors last week.

Lisa Matthew (Operations Director of Guild Group) commented “We are currently exploring all options for reopening whilst we prepare the ground for the new operator.”

Read more: Opinion on where next for the Guild Hall?