THE Kennet & Avon Canal Trust has made 'huge financial losses' for the past five years.
At a recent meeting the treasurer, Neil Lethby, told Trustees that extreme measures must be taken to try to reverse the Trust's deepening financial crisis, as it had made losses for the past five years, and without such measures would not break-even this year.
Departure of chairman
At the same meeting the the departure of the chairman who had been in post for just over eight months was also announced.
A survival strategy has been agreed that means the general manager will only work part time and the warden and shop/café manager at Crofton not being replaced when they leave later this year.
The Trust's Magazine Editor, Alan Whitewick, will be taking responsibility for fundraising of at at least £1,000 a month, aiming to recruit a team to run this fundraising campaign.
This new fundraising scheme comes less than a year after the Trust launched Membership Plus, a major fundraising campaign that set a target of raising £100,000 from contributions and by recruiting new members, which failed.
The Kennet & Avon Canal Trust financial problems have come to a head at a time when British Waterways had formed a partnership with the Trust to run a pilot scheme for its plans to become a 'third sector' organisation...