An investigation into the troubles of the Old Market in Hove is to continue for some time.
Seven permanent staff working for Old Market Enterprises, the centre's marketing arm, were made redundant four days before Christmas.
Liquidators were called in to investigate the firm's accounts and to recover what it could for creditors.
Geoffrey Rhodes, of Brighton accountants Begbies Traynor, was appointed administrator.
He said: "I cannot say how long the investigation will take but it is likely to continue for some time.
"So far, everything seems to be quite straight-forward and I have found nothing which gives me cause for concern."
The 176-year-old arts centre, in Upper Market Street, Hove, was restored at a cost of £5million in 1998 but ran into financial difficulties soon after it opened. By the end of last year had run up debts of £1.4 million.
South-East Arts and Brighton and Hove City Council withdrew their funding in December.
The Old Market Trust, which owns the building, concentrates on hiring out the theatre and hall.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article