Future of Guildford theatre in doubt amid financial crisis
The Electric Theatre is cancelling some events and performances from April onwards
A much loved Surrey theatre is considering its future as it reviews an ongoing financial crisis.
The Electric Theatre in Guildford say the venue made a lose of more than £250,000 in the 2023/24 financial year.
It means the owners are uncertain as to whether the space can remain open.
As a result some events and performances will have to be cancelled or moved from April onwards.
The Academy of Contemporary Music, which runs the theatre says they have been running at a loss since they took over the lease from Guildford Borough Council in 2017.
They have apologised for any inconvenience to customers and anyone affected will get a full refund.
The ACM released the following statement:
"Due to the current financial climate and pressure that the education sector is experiencing, it has been necessary for ACM to cancel or move some public events from April 2025 at the Electric Theatre while we assess the viability and safety of the operation.
"Any customers affected will receive a full refund for any cancelled events. We are sorry for the inconvenience this will cause to local groups and artists, but ACM is unable to continue to subsidise this venue which has run at a loss since ACM took over the lease from Guildford Borough Council in 2017.
"In the 23/24 financial year the theatre made a loss in excess of £250,000. We will work with our partners at the council to see if this vital community asset can be transferred and we are keen to work with interested parties.
"In the meantime, we will continue to support planned events up until the end of March and our ACM student activity will continue at the Theatre.
"We would like to thank the staff team and volunteers both past and present for their commitment and dedication to the venue."