The designer pocketed more than £220,000 more for herself in the year to December 31, 2020 compared to the previous 12 months, even though the business suffered a 26% fall in sales.
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| Updated: 11:26, 11 December 2020
The Royal Shakespeare Company today (Friday) announced that the Company has been successful in an application for repayable finance to the governmentâs Culture Recovery Fund. The loan of £19.4 million will help to secure the immediate future of the Company amidst the ongoing impact of the Covid-19 pandemic on the theatre industry.
However it also said that redundancies were imminent, with a potential loss of 17 per cent of its permanent workforce.
The company has been unable to stage full productions since the start of the pandemic, resulting in an expected loss of 86 per cent income outside the RSCâs Arts Council England (ACE) grant, a loss of approximately £46 million for the current financial year. Throughout the crisis the RSC has used its reserves and ACE grant to support the Companyâs activity, alongside fundraising income from trust funders, donors and partners as well as donations from audiences, Members and Patron