Student haunts now ghosts

The sudden bankruptcy of the Edinburgh University Settlement last week is sad news for students on two fronts: first because it means that Edinburgh has lost a valuable community development project; second, the University of Edinburgh-affiliated charity did not die alone, but now looks set to take with it three beloved student haunts.

The GRV nightclub on Guthrie Street and the Forest Cafe on Bristo Place both occupy buildings owned by EUS, and the dissolution of that organisation means that both venues are now at risk of closure. Their niche charm and proximity to the University campus have made them regular destinations for many students, and we can only hope that the campaigns to keep them open are successful.

But probably the most painful loss of all is that of the Roxy Art House, the beautiful former church on Roxburgh Place which seemed to be well on its way to becoming a formidable force on Edinburgh's cultural scene. The Roxy, although no stranger to financial troubles, had in the last two years become a lively home of the arts, and its absence will be keenly felt by the city's artistic practitioners and aficionados alike.

Putting aside our regrets, perhaps now is the time for recrimination. The bankruptcy was swift and unexpected, and in the course of our reporting on this story there seemed to emerge a wealth of unanswered questions: why was a convicted fraudster serving as an advisor to the charity? Why was the charity regulator allegedly investigating EUS? And how did they end up with a £300,000 annual overspend?

Based on what we know now, which is as yet far from the whole story, this was at best a case of chronic mismanagement. As a result, the city has lost a century-old philanthropic organisation, the community has lost three key cultural centres and forty people have lost their jobs. A bad deal all round, it would seem.