Bosses at Quad in Derby say a council loan was helpful but the building needs urgent repairs.
Issuing the loan in the same month, the council's cabinet said the funding would help secure a "key cornerstone of the cultural city".
Quad opened in 2008 but has struggled since Covid and has also been hit by the loss of neighbouring attractions such as the Market Hall, Assembly Rooms and Guildhall. While Quad bosses said the venue had just experienced its "busiest cinema month since pre-pandemic" with more than 8,000 attendances for latest blockbuster movies Barbie and Oppenheimer, it has been impacted by rising energy costs.
Quad's management team said: "We really need to update specific equipment to improve accessibility for all our customers and also to remain as environmentally sustainable and efficient as possible. "This fundraising is critical for us to raise money to replace equipment in Quad which is outdated or nearing replacement, in order to keep our facilities up to standard."
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