Police have been investigating allegations of fraud since last October at venue operator SMG Europe.

The company operates, from its head office in the Manchester Arena, nine UK venues comprising the Arenas in Belfast, Leeds, Manchester and Newcastle as well as the Bridgewater Hall in Manchester, the York Barbican in York, the Playhouse at Whitley Bay, Tyne and Wear, and the Baths Hall and Plowright Theatre in Scunthorpe. It also operates two venues in Germany and one in Poland. The SMG parent company in the US operates more than 220 venues across the United States, Canada, Puerto Rico, Chile and the Caribbean.

It is thought that the fraud being investigated is a financial impropriety of an employee, or former employee, which could have happened several years ago. No arrest has been made and Greater Manchester Police say enquiries are ongoing.