The iconic Coliseum Theatre has confirmed with ‘deep sadness’ that it will be closing in two weeks despite a passionate campaign backed by actors and residents to save it.
In a statement released today (March 16), the theatre company stated that the doors to the historic venue on Fairbottom Street would close to the public for the final time on March 31.
It follows the decision by Arts Council England (ACE) in November to drop the Coliseum from its funding portfolio for the next three years after the body deemed it ‘high risk’, raising concerns about its’ financial management, leadership and governance.
The funding cut – which was a third of the income for the Coliseum – meant the financial situation was ‘not sustainable for the current continuation of the business’, theatre chiefs said.