Administrators have stepped in to take control of the Warehouse Theatre in Croydon after its board of directors failed to raise a £250,000 rescue package.
Frost Business Recovery was appointed on Tuesday following a week of speculation about the Dingwall Road venue’s future, with staff unpaid for months and debts of about £100,000 owed to banks and Her Majesty’s Revenue and Customs.
Frost’s managing director, Jeremy Frost, said the lights would go down on the theatre next week, but theatre campaigners should not stop fundraising.
He said: “They need about £4,000 to £5,000 simply to get the appeal up and running. If you get that quickly and can start a movement going it gives us something to work with.
“After the lights go off it becomes that much more difficult, but any additional funds gives us room to manoeuvre.”
He added they had been contacted about a potential purchase of the Warehouse.
He said: “We have already been approached by a number of parties interested in buying the theatre and/or its assets, but if any other parties are in the wings and might be interested, they should contact me as soon as possible, as time is obviously of the essence.”
Established 35 years ago, the Warehouse received £125,000 a year from Croydon Council until funding was cut in 2006.
Cash has since come from the Arts Council and smaller grants, but these have also dried up.
Ted Craig, the theatre’s artistic director, said: “For 30 years we had money from the council and the theatre thrived, but you need to expand.
“We don’t have enough seats and we planned to expand 10 to 15 years ago but this was blocked because the council wanted an arena, which came to nothing.
“I have fought so hard and, to be honest, I feel cheated.”
A council spokesman said: “We are disappointed to hear the Warehouse Theatre has gone into administration and hope they will be successful in raising alternative funding and have offered our support in this endeavour.
“If the Warehouse is unable to survive we will aim to restore studio theatre to Croydon as part of the remodelling of the Fairfield Halls.”
The current production of Call Mr Robeson will complete its run to Sunday May 20.
To support the appeal – which has already raised £1,350 – visit warehousetheatre.co.uk.
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