Electric Theatre in Guildford faces financial crisis

The Electric Theatre in Guildford is facing a financial crisis, leading to uncertainty about its future. The venue reported a loss of over £250,000 in the 2023/24 financial year. This struggle is prompting its owners, the Academy of Contemporary Music (ACM), to review operations and possibly cancel or reschedule events starting in April 2025. ACM issued a statement regarding the situation. They explained that due to financial pressures in the education sector, they can no longer afford to subsidize the theatre. This has resulted in the cancellation of some public events. Customers who bought tickets for these events will receive full refunds. ACM expressed regret for the inconvenience caused to local artists and groups. The Electric Theatre has been operating at a loss since ACM took over the lease from Guildford Borough Council in 2017. Despite the challenges, ACM plans to cooperate with the council to explore options for transferring the venue to other interested parties. Until March ends, they will continue to support scheduled events and ACM student activities at the theatre. Originally an electricity works, the building became the Electric Theatre in 1997 after undergoing transformation by Guildford Borough Council. It has hosted various performances, including upcoming shows like a tribute to Spandau Ballet and the musical Annie.