Electric Theatre In Crisis As Financial Pressures Hit – Annual Loss of Over £250k

Published on: 22 Mar, 2025
Updated on: 22 Mar, 2025

By David Reading

The Electric Theatre in Guildford is facing extreme financial pressures and discussions are under way to decide its future.

The Academy of Contemporary Music (ACM), which has been running the theatre since 2017, said the venue made a loss “in excess” of £250,000 over the period of a year.

Higher energy and employment costs are said to be part of the reason for the crisis.

A number of shows scheduled after the end of March have been cancelled.

However, the managers say there is no suggestion at this point that the theatre is closing or that it has “gone bust”.

The Electric Theatre. Discussions on its future are ongoing

A post on the theatre’s website says: “Our plan is to keep the venue open while we explore options to exit the lease, and we would prefer to transfer the running to another operator. We have cancelled and moved some performances to allow us time to consider our next steps.

“The theatre continues to operate while we explore options, all customers have been refunded in full, and we will pay fees that are due to artists.”

The building is owned by Guildford Borough Council. The ACM, as the venue operator, says it is continuing honour agreements and limit disruption as much as possible.

Explaining the crisis the ACM says: “Due to current financial pressures and cost increases we are not able to continue providing the subsidy or investment that the venue requires. The venue has limited seating capacity, and this restricts its ability to cover its running costs. “

The statement goes on: “ACM were hirers of the Theatre when it was under GBC control and intended to use it for educational use during the day and for theatre use at other times. ACM got some things wrong but unfortunately, this model has not been successful operationally or financially and the theatre has sustained significant losses which are increasing due to higher energy and employment costs.

“We have been reviewing the operation for a number of months. Recently we have been in discussion with partners including Guildford Borough Council. We have tried to inform staff, volunteers, GATA, artists, promoters and students in that order before we made a public announcement.

“We will continue to explore options and will engage with local groups and interested parties who may wish to operate the venue. In the meantime, our student activity will continue to make use of the building.”

Addressing the question of possible redundancies, the statement goes on: “The theatre has had a significantly reduced staff team over recent months, and we are trying to limit the number of redundancies. Our casual employees are affected by a reduction in shifts, and we will explore alternative options for them.”

Guildford Borough Council has been invited to comment.