The firm behind theatrical tourist attraction The Vaults has exited examinership
The new Dublin venue is expected to open its doors ‘by the third week in October’ after securing funding.
THE COMPANY BEHIND The Vaults theatrical tourist attraction has exited examinership and expects to open its doors next month.
In a statement to Fora, Frontier Entertainment said that it has exited examinership and the new venue is set to be completed and fully operational “by the third week in October”.
The company will continue to operate the new Dublin attraction after securing new investment from the Belfast-based Lagan family, which sold its eponymous construction group in April for over €520 million.
The financial details of the deal were not disclosed. It had previously been reported by the Sunday Independent that the Lagans were planning to put €3 million into the attraction.
Former broadcaster Paul Blanchfield and producer Gerald Heffernan, the duo behind Frontier Entertainment, will remain shareholders in the company and operate the business in partnership with the new backers.
“We can’t wait to open The Vaults to the public in mid-October. Dublin’s been waiting for a new iconic venue for some time,” CEO Paul Blanchfield said through a statement.
Examinership case
A motion to place Frontier Entertainment into examinership was previously brought by Brookdale Partners, a unit that controlled 45% of the company but is no longer involved in the project.
The move came several months after it became apparent that a further €1.25 million was required to complete the construction of the venue at the Old School House building in John’s Lane, which had been budgeted to cost €5 million.
Tipped to open on 19 October, The Vaults will feature daily theatrical performances that depict scenes and characters from Irish history.
It will employ 50 people, mostly full-time actors, and will host up to 30 shows a day on a 360-degree stage fitted with sound, lighting and special effects.
The founders of the attraction are pitting The Vaults against tourism heavyweights like the nearby Guinness Storehouse, Titanic Belfast and the Warner Bros Harry Potter Studio Tour in London.
