 Operating at an annual loss of £100,000 and with estimates close to £1 million to secure the future of the pier, plus a further £250,000 required every five years for repainting, a charitable trust was formed in 1993 to upkeep the pier; various funding was secured in the subsequent years to maintain the pier's operation.In February 1997, a grant of £34,000 () was provided from lottery funding in order for a structural survey to be undertaken, confirming the pier's then poor condition and recommending its closure.In October 1998, the pier received a heritage grant of £1.7 million from the Heritage Lottery Fund, awarded to support restoration and access.