Royal Shakespeare Company to receive £19.4m government loan

A £19.4m loan for the Royal Shakespeare Company (RSC) will help to secure its "immediate future", it says.

The RSC, which said in October 158 jobs were at risk, has successfully applied for a loan from the government's Culture Recovery Fund.

It has not been able to stage full productions since the pandemic began.

Its Stratford-upon-Avon home is under tier three rules - the strictest measures available - meaning all entertainment venues need to be closed.

The National Theatre, Southbank Centre and English National Opera are among other organisations set to benefit from the £165m being offered in "repayable finance", the Department for Culture Media and Sport said.

Some of the RSC's back catalogue is being streamed by subscription services and it hopes to restart full productions in Stratford and London in the spring.

However, it said it expected to lose 86% of its non-Arts Council England grant income over the current financial year.

The government loan is due to be paid back by 2040 and the RSC said some of it would be used to stage Tales for Winter online.

Other plans include continuing education work and delivering "a major piece of work" as part of Coventry City of Culture 2021.

In a statement, Artistic Director Gregory Doran and Executive Director Catherine Mallyon said they thanked the government for "significant backing" and were "very grateful" for support from audiences, donors and partners.

They added the finance would help the RSC to recover and in the medium-term reopen its Swan and The Other Place theatres, although they will remain closed next year.

In October, the RSC, which has more than 500 employees as well as freelance workers, said it hoped to "minimise" compulsory job losses to under 90. A consultation process is expected to end early next year.

Other venues receiving loans from the Culture Recovery Fund include:

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