ONE of the main custodians of Jersey heritage, its environment and stunning coastline has lost £1 million in the credit crunch stock market crash.
The National Trust for Jersey has seen its savings slashed from £3.8 million at the end of 2007 to £2.9 million in December last year.
It is expected that the investments have depreciated further this year. Trust chief executive Charles Alluto (pictured) said that the loss was compounded by a day-to-day shortage of funds.
His revelations about the organisation’s financial troubles follow the bailing out of both Jersey Heritage and the Arts Centre in recent weeks.
