A decision on the future of an arts venue has been delayed as discussions into its £1.4 million debt continue.

The Old Market Trust, which runs the Old Market in Upper Market Street, Hove, owes the money from the restoration of the listed building.

Bosses from the trust held crisis talks with the Arts Council of England, South East Arts Board and Brighton and Hove City Council last week.

They discussed a lump sum to cut the debt and the Arts Council of England agreed to consider helping the venue with the debt as "a matter of urgency".

The South East Arts Board and the council said they would consider the trust's request for £100,000 to run the venue annually.

The three organisations were set to make a decision yesterday but have delayed any announcement until Monday.

The centre's trustees are meeting on Wednesday to discuss any decision.

The Old Market project was launched in 1995.

The trust was set up to manage the building's restoration, with almost £6 million of public money and private donations ploughed into the centre, which opened in May 1999.

Building work began in 1997 after the project was granted £3.9 million of National Lottery money.

The project ran into financial trouble almost straight away and had to be bailed out by the city council in July last year.