Cancellation of the Royal Highland Show and the loss of other income due to the coronavirus pandemic will cost the Royal Highland and Agricultural Society of Scotland (RHASS) more than £6 million.
The society has now called on its members to support it as it prepares to deal with an estimated £4.8m loss in revenues as a result of the four-day show not going ahead in June, and a further loss of events income revenues, which amounted to £1.5m last year.
RHASS chief executive Alan Laidlaw said the decision to cancel the Highland Show had come on the eve of completion of a new multi-million-pound members’ area at the Ingliston showground, on the outskirts of Edinburgh.
He said investment in the new facility, along with upgrades to the Royal Highland Centre, had been made to secure the society’s financial stability in the future.
However, he added: “The reality is the coronavirus has had a catastrophic impact on our events business and we will need to take tough decisions so we can continue to deliver against our charitable remit, while protecting the future of the organisation.”
The society’s charitable remit includes the provision of grants and awards to industry – worth more than £328,000 last year.
RHASS chairman Bill Gray called on everyone in the industry to support the society by renewing their membership, joining for the first time, leaving a legacy in their will, or supporting the organisation through donations, sponsorship or partnerships.
He said: “Our focus over the coming months is to look at how we bridge the financial gap we are faced with, while still contributing to the success of the agricultural and rural sectors through our grants and awards.
“Memberships are the lifeblood of the organisation and we urge people to continue to support us so that we can maintain our charitable work that goes way beyond what is visible during the four days of the Royal Highland Show.”
