When the city council's financial support ends, Liverpool's renowned Epstein Theatre will close at the end of the month.
In 1913, the theater, which is housed in Hanover House, began hosting performances.
Due to budget cuts, Liverpool City Council stated that it was unable to continue supporting the theater financially.
After "exploring every avenue" to try to save the theater, Epstein Entertainments Ltd., which owns and operates it, said it was "heartbroken.".
It stated that all productions would proceed as scheduled through June 30.
In October 2018, the business received the agreement to run the theater on behalf of Liverpool City Council.
The business claimed that it had requested £50,000 annually for the following five years but had been turned down by the authority.
Epstein Entertainments' artistic and operations director Chantelle Nolan told BBC Radio Merseyside: "Everyone at the Epstein is absolutely heartbroken.
"We've done everything we can to keep the theater open and functioning.
"Epstein Entertainments Ltd. is financially stable and operating profitably, but sadly Liverpool City Council has stopped funding the company. they made the decision not to renew their lease with the landlord.
It's a bit of a catch-22 situation because the person running the theater doesn't have a lease and you can't apply for Arts Council funding, which creates a vicious cycle. ".
The company had "explored every avenue," she said, adding that "we have just come to the end of the road," calling the situation "so sad.". Unless a huge investor wants to save us from the mire.
It is a "massive shame, but ultimately it's got to be sustainable and we have supported this as much as we possibly can," said Councillor Harry Doyle, cabinet member for Health, Wellbeing, and Culture.
"We've got to make some tough decisions," he said, adding that the council had given the theater £100,000 annually. in terms of our budgetary savings.
