Terrible news this evening as children's charity, Kids Company has closed down (as of 19:00 GMT), amid allegations of financial mis-management, from UK government officials. The charity has made a huge difference to children's lives since 1996 and is cause, which has been close to Coldplay's hearts.
The saga involving the charity's finances had been going on since last year, when their funding was slashed, prompting the charity's founder, Camila Batmanghelidjhs to request an advance of Coldplay's annual £1.3 million donation (the band have privately funded Kids Company since 2009). The charismatic founder of the charity was recently asked to resign by government officials, who displayed serious doubts over the charity's ability to manage itself financially. Last week, they were given £3 million in extra funding but the cabinet office said they were "unable to move to a sustainable financial position" and have subsequently closed.
Kids Company closes its offices on 5th August, at 19:00 amid allegations of financial mis-management
The charity's founder warms children' abandoned' by closure
Local councils in affected areas of the UK say they have the resources to support children but they require details from Kids Company
Coldplay and Sir Richard Branson among some of the charity's private donors.
Sales from the recent artwork auctions of Coldplay's albums, 'Mylo Xyloto' and 'Ghost Stories' were donated to Kid's Company
Coldplay headlined charity concert, 'Under 1 Roof' in aid of Kid's Company (Pictured below, in 2013)