The Trust issued this statement on Monday 21 November.
“We are saddened and hugely disappointed to announce that today, Nottingham Castle Trust (‘the Trust’) has begun the process of appointing liquidators.
“This is a heartbreaking day for trustees, our staff, visitors, and the city. Despite the immense dedication of staff and volunteers, the Castle is now closed to visitors.
“Tim Bateson and Chris Pole of Interpath Advisory have been nominated by the board to be appointed as liquidators to formally wind up the affairs of the Trust. Their appointment will take place during the course of the next ten days.
“While visitor numbers have been improving, they have unfortunately remained highly unpredictable and significantly below forecasts, mirroring the difficulties seen across the whole cultural sector.
“In line with heritage organisations and attractions across the UK, Nottingham Castle experienced a particularly tough summer that has negatively impacted expected funding streams.
“As the charity that operated Nottingham Castle on behalf of Nottingham City Council, the Trust’s business model and financing was agreed in 2017 and we are now in a fundamentally different social and economic environment.
“The immense challenges posed by the pandemic, the financial crisis and the three-fold rise in energy costs meant that this charitable trust model was no longer workable, and the Trust was simply not able to evolve quickly enough to survive the ongoing economic crisis as it enters its quietest trading period of the year.
“We stand by the vibrant vision that was set for Nottingham Castle in 2017 and are hopeful that a new operator will realise and take this forward in the near future for the benefit of our fantastic city.
“We would like to thank all of Nottingham Castle Trust’s supporters, including the thousands of visitors that have been through our gates. Finally, a huge thank you to staff and volunteers who made Nottingham Castle such an amazing place to visit.”
Lilian Greenwood MP MP for Nottingham South and Opposition Deputy Chief Whip said there is a “commitment by Nottingham City Council to work with the funders and others to re-open the Castle site as soon as possible.”
‘”I urge the Trust, the City Council and partners in the city to do everything possible to support those facing redundancy following this announcement.
“I stand ready to do all I can to ensure the Castle is an attraction we can all be proud of.”