The company behind Harborough’s cinema screen project has gone into liquidation.
The scheme was intended to create a permanent one-screen cinema in town and received about £80,000 in grants including thousands of pounds from residents who bought memberships to support the plan.
A meeting of creditors was held last Wednesday after the Harborough Screen Community Interest Company (HSCIC), which was behind the project, ceased to trade.
Peter Windatt and John Rimmer of Business Recovery and Insolvency were appointed joint liquidators at the meeting.
In a statement, the firm said: “The assets of HSCIC will now be sold with the proceeds being paid into the liquidation estate.
“Sadly, based on the information available, and due to the costs and expenses of liquidation, it does not appear likely that a dividend will be paid to the creditors.
“Creditors include a number of businesses and members of the community who have paid sponsorship/ membership fees.
“Creditors will be updated on the progress of the liquidation on an annual basis.”
The Mail understands about 150 firms and individuals backed the scheme.
When it was revealed the company would cease to trade last month, the directors released a statement to the Mail saying it was a great shame.
It added: “We would like to take this opportunity to thank the volunteers involved with the project.
“We would also like to thank the businesses and general public for their support over the last few years.”
Fears had surrounded the project for some time, with the district council delaying a decision to hand over a grant in April due to concerns about its viability.
If creditors have any queries or concerns regarding the affairs HSCIC or the progress of the liquidation, they can contact Lauren Bartlett on 01604 595605 or Adam King on 01604 595616.
The liquidators said advice will be sent out to all creditors.