The production companies behind Coronation Street musical Street of Dreams have been forced to bring down the curtain on their operations after the appointment of administrators.Street of Dreams Limited and Reckless Entertainment Limited have been put into administration after running into financial trouble funding its now cancelled UK tour.
Adrian Hyde and Richard Toone, partners and restructuring specialists at national accountancy firm Chantrey Vellacott DFK, have been appointed joint administrators.
Hyde said: “Our appointment as administrators follows months of uncertainty and problems surrounding Street of Dreams and its Coronation Street musical.“The production company has suffered from a funding deficit and a lack of confidence in the venture, but with the right level of investment it is hoped that production of the show can be relaunched.
“The production has been five years in the making and held two sell out nights at MEN Arena in Manchester which demonstrates the huge potential success this venture could have with new finance through a new vehicle.
“We’re looking forward to working with the show’s musical creator Trisha Ward, ITV, and the actors and their union Equity, with the hope of achieving a return to all the stakeholders involved.“I’ve no doubt this production will be an extremely attractive proposition and investment opportunity, given the potential to incorporate a West End show and UK tour, and we welcome any interested parties to get in touch.”
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