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Post by alece10 on Aug 7, 2022 8:50:32 GMT
Just had a very brief e mail from Above The Stag Theatre to say it has permanently closed as of today and there will be a statement on Tuesday. Sad news indeed.
To all Above The Stag stakeholders (issued at 9.30am on Sunday 7 August 2022)
Above the Stag ceased trading and permanently closed it’s Vauxhall venue at 9:30am on Sunday 7 August 2022.
An explanatory statement will be issued at 12 noon on Tuesday 9 August 2022.
Ticket holders with future bookings will be refunded in full.
Trade creditors, staff, creatives, actors and technicians with any outstanding amounts due will be paid in full.
Thank you to all stakeholders for their loyal support.
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Post by oxfordsimon on Aug 7, 2022 10:40:54 GMT
That is very sad news indeed. A vital space for queer theatre gone in an instant
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Post by happytobehere on Aug 7, 2022 10:52:02 GMT
That’s awful, a brilliant venue for queer theatre. Such a shame it’s closing.
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Post by sph on Aug 7, 2022 12:07:52 GMT
Such a shame. Somehow I missed their pantos, but I did see some good stuff there over the years.
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Post by oxfordsimon on Aug 7, 2022 12:22:56 GMT
I particularly feel for the cast and crew of Straight and Narrow as that was just about to open there.
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Post by sph on Aug 7, 2022 12:53:03 GMT
I particularly feel for the cast and crew of Straight and Narrow as that was just about to open there. Yes, they had quite a lot lined up over the next few months. This morning's news was so very sudden! A notice saying "closed as of TODAY" is mad. I wonder what happened?
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Post by n1david on Aug 7, 2022 13:10:11 GMT
We'll have to see what Tuesday's statement says, but they did seem to be getting themselves back on their feet after Covid. I'm not often in Vauxhall, but locals tell me that the bar was becoming a successful community venue independent of the theatre so you'd have thought that would have helped subsidise things.
They had threatened closure earlier in the year, and the statement issued at that time said "Regarding our current financial situation - funding has been agreed in principle to enable us to stay in our current premises for the foreseeable future however this is dependent upon a rent review (due to take place in August) and a structural survey of the arches (due to take place early next year). If at either of these points it is unfeasible for us to stay in the arches long term we would be looking to move to new premises."
Given we're now in August, the obvious conclusion is that the rent review has proven unfavourable, but let's see what Tuesday brings. They were still advertising shows on social media yesterday, so this is truly sudden.
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Post by alece10 on Aug 7, 2022 16:21:20 GMT
It's made the BBC London news with quite a lengthy feature just now.
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Post by stevemar on Aug 7, 2022 16:56:28 GMT
A sudden announcement like that would usually be made where it had gone into administration. However, the wording below and the fact no administrators are referred to clearly contradicts the “usual” situation.
“Ticket holders with future bookings will be refunded in full.
Trade creditors, staff, creatives, actors and technicians with any outstanding amounts due will be paid in full.”
All will be revealed on Tuesday, but as N1David notes, they had previously signposted the rent review/premises.
Hopefully they can move elsewhere or those involved can join forces with theatres such as the Kings Head, Turbine or Seven Dials Playhouse. The fact they refer to their Vauxhall premises being closed (even though as far as I am aware that’s it), but not the whole business might imply some hope to keep going elsewhere.
Really enjoyed their Panto, Closer to Heaven and other shows there.
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Post by sph on Aug 7, 2022 17:24:43 GMT
In terms of its future I don't really know - it's funny that yesterday was a normal day of business with the bar open, a play on last night etc and then this morning - gone! You would think there would be some sort of notice period of a week or two but then I don't know much about these things.
When it opened originally, I imagine the concept of an LGBT theatre was quite ground-breaking. But nowadays so many other Off-West End venues around the city are producing LGBT content that they're no longer "unique" in that respect.
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Post by oxfordsimon on Aug 7, 2022 17:33:52 GMT
They are still advertising on Facebook. Which is rather unfortunate
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Post by alece10 on Aug 9, 2022 11:23:04 GMT
Statement to all Above The Stag stakeholders. (Issued at 12noon on Tuesday 9 August 2022)
Since announcing the heart-breaking closure of our Vauxhall venue two days ago, Above The Stag has been overwhelmed by thousands of kind and positive messages of support. Thank you!
The past 5 years, in our beautiful Vauxhall home, have been extremely happy and successful but financially very challenging. As a Charity and the UK’s only exclusively LGBT+ Theatre, we are delighted to have staged award winning productions, sponsored new talent of every kind, provided a rare cross-generational queer space for our LGBT+ community and given you all great nights out. It has certainly been a privilege for us.
We are very proud of all the wonderful staff, creatives, technicians, actors, artists and especially our loyal audiences who have graced us with their presence. A big thank you to everyone who has walked through our doors and been part of the creation of some very special magic.
Regretfully, it has not been possible to come up with a feasible business plan for the next 5 years in our existing venue. Our landlord, The Arch Company, has been very understanding and supportive. Another contributing factor in the decision to close is that Network Rail, as a priority, have to carry out a full back to brick safety inspection and repairs to the arches within the next 6 months. The arches have to be closed, emptied, stripped back, and then all reinstated after the repairs are completed.
The show is not over yet... Above The Stag is still very much alive and kicking. All furniture, fixtures, fittings and equipment are being transferred into storage in readiness for a reopening elsewhere at a later date. Our Benefactors have committed to donating £2m over the next 5 years subject to us finding a fit for purpose new venue and coming up with a feasible 5 year business plan. The search for our new home begins now!
Our mailing list members will be kept informed of all our future plans. If you want to join our mailing list or you have any suggestions regarding a suitable new home for us then please email us at mail@abovethestag.org.uk
We look forward to hearing from you and to keeping in touch with you.
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Post by n1david on Aug 9, 2022 11:51:12 GMT
It's very odd that it closed so suddenly given that the landlord is quoted to be supportive and that Network Rail's requirement for a safety inspection is in the next 6 months, so I don't see why this week's show (and even through to the panto) could conceivably have continued. And there are mysterious "benefactors" who are looking after the place. I really do wish them well, I have followed them from Victoria to their two Vauxhall homes and really hope they get another new venue but it does still feel that there are questions to be answered.
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Post by stevemar on Aug 9, 2022 12:35:33 GMT
Speculation, but there may have had some legal or insolvency practitioner advice along the lines of they have to close now to avoid a real risk to creditors, for which the directors would be personally liable. Whilst the suddenness of the announcement seems out of place, if they had carried on they might have reached the point of no return re the business, or at least increased risk to unacceptable level to creditors and stakeholders.
The fact they acknowledge the landlord and benefactors may indicate that they and other stakeholders would have also had a say, or at least the directors need to take those views into account in their decision making.
No doubt there have been discussions and advice over many months even though to the outside it was “business as usual”, so to the outside world it may appear sudden or unexpected.
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Post by kathryn on Aug 10, 2022 10:43:02 GMT
Almost certainly they had a deadline to show viability for the next 5 years to someone who was going to provide them with funds - either loans or grants, but most likely something to do with credit terms - and because of the uncertainty over the venue they just couldn’t meet that deadline.
So it looks sudden in that the deadline was arbitrary to some extent, but has no doubt been rumbling along for some time.
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Post by mouseinthetheatre on Aug 10, 2022 13:00:05 GMT
Very very strange. as said above no explanation at all for the immediacy of the closure.
Y/E 2020 accounts state a cash reserve of £650k, and the theatre was closed that year. Y/E 2021 accounts are due to be published in next 3 weeks so perhaps they'll show something???
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Post by Jon on Aug 10, 2022 13:07:13 GMT
Did Above The Stag get anything from the CRF?
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Post by TallPaul on Aug 10, 2022 13:41:12 GMT
Above the Stag occupied arches 72 & 73, I think. The quoted rent for the vacant arches just a little further down the track is £35 per square foot, plus VAT. www.thearchco.com/properties/VXH02604/Are any of the neighbouring businesses having to close for this brick inspection? It seems unlikely that Network Rail would only want to inspect, then repair, just the few metres above Above the Stag..
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Post by n1david on Aug 10, 2022 13:50:25 GMT
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Post by Jon on Aug 10, 2022 14:08:51 GMT
Seems odd they didn't get funding considering the RVT nearby got money.
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Post by sph on Aug 10, 2022 21:33:48 GMT
I guess a bigger venue like their current one means more overheads, and they weren't making enough to break even. The sudden closure will maybe be because if they were losing money with each day of business, it was better to completely close now rather than lose even more money over the next few weeks.
I hope they come back, but I expect they'll downsize to a smaller venue.
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Post by stevemar on Aug 11, 2022 17:42:37 GMT
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Post by austink on Aug 13, 2022 7:17:48 GMT
Indeed but seems odd they wouldn’t make closing a thing and it’s very weird to wake up as a business to “oh sh*t we are not a going concern”. Reflects not the best management and feel bad for anyone who they had signed for upcoming shows when the venue knew they weren’t going to happen. I guess a bigger venue like their current one means more overheads, and they weren't making enough to break even. The sudden closure will maybe be because if they were losing money with each day of business, it was better to completely close now rather than lose even more money over the next few weeks. I hope they come back, but I expect they'll downsize to a smaller venue.
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Post by cherokee on Aug 13, 2022 9:26:21 GMT
Absolutely. Above the Stag's modus operandi has always been slightly amateurish. Programming seems to happen very late and shows are announced quite last minute, but that's now twice this year - first in March and again now - that they've suddenly announced they're closing, leaving directors, writers and actors high and dry, and saying as much on social media. Nothing about these circumstances suggest that they couldn't have been anticipated. However unfortunate the details, the whole thing smacks of incompetence. If it were me, I'd think very carefully about working there in the future. Even if they do move somewhere else, who's to say it won't happen all over again?
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Post by woobl on Aug 14, 2022 21:47:26 GMT
It appears the people behind the pantos have gone their own way as their own company. Will be interesting to see what they do.
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