The castle trust had been backed by money from the council, the lottery and business funds
BBC News
The revamp had been backed with a £13.9m lottery grant, £8m loan from the city council and £7m from the D2N2 enterprise group. Mr Mellen said he was "saddened" by the news and appreciated the impact on the city but emphasised the castle and contents were not at risk.The castle and contents of its galleries are owned by the council, not the trust
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