'High risk' theatre will close without urgent funds

Bosses of a Grade-II listed theatre have warned there is a "high risk" it will close because its finances are in a "critical" state.

The Cheltenham Playhouse trustees say they do not currently have the "depth of funds" to survive.

Neil Burge, acting chair for the board of trustees, said the "finances we inherited were in a desperate state," adding it could survive if it can get past short-term money issues.

"Unless we receive some urgent help and funds, there is a high risk that the theatre won't continue," Mr Burge added.

Mr Burge added: "We are trying to rebuild after a number of tough trading years.

"The huge gestures of financial support we have received from our community since our publicity earlier in the year have kept us going this far and allowed us to rebuild a level of financial reserve.

"We know that we would have had to encounter this decision a lot earlier without it.

"However, we are reaching a point where we simply don't have the depth of funds to keep the doors open, particularly looking after an old building which is expensive to run and maintain."

Mr Burge said they felt there was hope for a "long-term future" for the theatre but there were more immediate money problems.

"The societies and groups using the theatre are regular and loyal and we can see a scenario where, with robust management going forward, we survive.

"What we can't get over is the short-term cash flow problem and this is leaving us in a critical situation," he added.

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