A CHARITY-RUN theatre threatened with closure could be saved if a new buyer is found.

A number of offers have been made on the Alexandra Theatre after Arun Arts, the charity which used to run the venue, folded.

Liquidators Sterling Ford were appointed to take over the theatre after financial problems proved too great to overcome.

Senior partner Martin Aaron is now assessing bids from potential buyers, who would take over the sub-lease with a clean slate.

Performances at the theatre, in Belmont Street, Bognor, have been cancelled or put on hold as the future of the venue hangs in the balance.

The last shows at the theatre, on the Easter bank holiday weekend, went ahead on the condition that the touring companies staging them would underwrite the cost of the performances.

Mr Aaron said: "We have been receiving the company's records and putting the business out for other people who may make offers.

"Several people have shown an interest and the main purpose at the moment is to find a suitable buyer who is willing to make a reasonable offer which will satisfy the landlord and freeholder."

He said the new owner would not take on the theatre's existing debts.

The venue, which has also been known as the Regis Centre and the Watershed Theatre, has been leased to Whitbread by Arun District Council and sub-leased to Arun Arts since 1996.

It has been dogged by financial problems for years.

An inquiry into Arun Arts by the Charities Commission in 2002 investigated claims a former trustee had been convicted of a fraud offence and £200,000 could not be accounted for.

The theatre has since had a series of trustees and managing directors but insolvency practitioners were called in after a voluntary arrangement requiring it to make regular payments to its creditors failed.

Adam Cunard, 18, of Sutherland Close, in Bognor, was a volunteer at the theatre for four years.

He left in 2003 because he disapproved of the way the venue was run.

He said: "I think what's happening to the theatre is sad. The situation should never have got this far in the first place."

"At the moment it looks hideous. It is painted badly and no time or effort has gone into it. It used to be run so well. It hurts to walk past it."

Arun District councillor for Pevensey, Conservative Sandra Daniells, echoed Mr Cunard's sentiments. She hoped the new leaseholders would get the venue back on its feet.

She said: "The theatre has had a traumatic history but it's looking positive now. We have been reassured the council will work with the new people to get it off the ground."

Managing director of Arun Arts, Mark Rowland, was unavailable for comment.