A NORTH-EAST music venue closed last night after experiencing financial problems a year after it was saved in a six-figure deal.

Newcastle Opera House was bought by the Adderstone Group in May last year. Last night, however, it was announced the venue was closing with the loss of 14 jobs.

Anthony Turner, director of the previous owner, Infonow, had placed the company in administration with Sunderland accountancy company Tenon Recovery after a winding-up petition was lodged with Newcastle County Court in April last year.

Under the deal, which was struck in May last year, the Adderstone Group bought the building and it was agreed that Mr Turner, of Burnopfield, near Gates-head, would continue to run the venue as director of a new company, Dovetail Trading Limited.

But the Adderstone Group said last night that despite the high-quality acts that have appeared, there were problems with rent payments and that the company could not allow the situation to continue.

Adderstone managing director Ian Baggett said last night: "There are complex issues which need to be worked out and we are trying very hard to find a solution to the problem.

"We expect to have good news within the next few weeks.

"People can also rest assured that we are working to secure the long-term future of the Newcastle Opera House."

Mr Turner declined to comment.