Artscape non-profit enters receivership after crushing financial struggles in Toronto
Автор: Global News
Загружено: 2023-08-31
Просмотров: 1814
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Artscape, which provides living and working spaces for Toronto artists, is facing the threat of receivership. The non-profit says its debt has piled up over the years, and the pandemic was the tipping point.
There have been multiple attempts to save Artscape and its 14 properties — such as Artscape trying to sell the Daniels Launchpad on Queens Quay without success.
The city even tried in July to get the lender to provide a conditional line of credit, but the lender came back with stiffer stipulations that fell outside of council's scope.
Global’s Brittany Rosen has the details and reaction.
For more info, please go to https://globalnews.ca/news/8463997/di...
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