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The Church Commissioners have made an emergency loan to help address the cashflow challenges at Peterbourough Cathedral. In addition to this financial assistance, they have also actively supported and continue to support the Cathedral and Chapter by giving practical assistance, for example helping the Chapter evaluate options for staff restructuring and its property sale programme.
The Bishop of Peterborough has launched a visitation which will include a review of financial management and overall governance of the cathedral. The Commissioners are assisting in this process and I am happy to say that governance is improving and Chapter is beginning to address its budget deficit.