Hastings Pier Charity had recently shared a new three-year business plan with the Heritage Lottery Fund, Hastings Borough Council and East Sussex County Council.
The plan demonstrated how the Pier could potentially reach self-funding status within three years. Proposals were based on the actual income figures of the Pier in the last eighteen months, building on successes, developing further fundraising projects and with proposals for a new temporary structure capable of weather proofing events for up to 2500 people.
These plans required additional grant funding of £800,000 over the next three years to build the Piers capacity as a venue, a visitor attraction and a place where Hastings residents would regularly visit.
Hastings Pier Charity has always taken the view that it would be wrong to ask community shareholders for more money to fund the on going operating costs of Hastings Pier. The major stakeholders did not feel able to support the new three-year plan.
Sadly therefore the Hastings Pier Charity has been placed into administration. The board will do everything to assist the administrator and step down at the end of the year.
The administrator who has been appointed, will now take on the challenge of finding a long term financial solution to the funding of Hastings Pier.
Hastings still has a beautiful, award-winning pier.
The pier will remain open to the public whilst the administration takes place, and the pier will be fully operational and staffed for 2018.
Hastings Pier charity board thank our many shareholders, committed staff, talented people and wonderful visitors who shared our vision through the last five years of the project.
Hastings Pier Charity encourages you to keep visiting and supporting the pier, and look forward to the next stage of the development of Hastings Pier.