RUMOURS that a multi-million pound project to revamp a renowned music venue is in jeopardy have today been quashed.

In its heyday, The Globe theatre, in Stockton, played host to acts including The Beatles, The Rolling Stones and the Bay City Rollers.

Its refurbishment is a key part of the town’s £38m regeneration plans, with Stockton Borough Council estimating it could bring more than 82,000 visitors and generate over £7m of spending in the town per year.

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However, a source informed The Northern Echo today (Thursday December 13) that the project is set to fold because of problems with an electricity supply.

It was claimed that the theatre’s original supply was removed when the town’s Wellington Square was built and the anticipated cost of replacing it could run into millions, meaning the end of the project.

However, Stockton Borough Council have stepped forward to deny the rumours.

A spokesman said: “The development work associated with the refurbishment of The Globe is continuing. The theatre will have its own power supply and the costs associated with this had already been factored into the refurbishment programme.”

Ian Williams, director of Jomast Developments, who are managing the project, added: “I can confirm that there is absolutely no truth in the rumours.”