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Lancashire entrepreneur Simon Rigby, who reportedly bought Preston Guild Hall for just £1, has lost £6m on the venture.
He revealed that figure as it was announced that a registered charity he is funding has stepped forward to re-open the venue’s Great Hall and Charter Theatre.
The Guild Foundation, formed to develop arts and leisure in and around Preston, will also look to secure a specialist operator for the city centre venue.
The charity has appointed GF Preston to run the Charter Theatre and Great Hall until that operator can be appointed.
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