Dunedin's iconic Fortune Theatre is closing suddenly after more than 40 years.
The shock announcement was made on Tuesday, after theatre board members decided it is no longer financial viable.
"It's not about making profit, it's not about being a hugely successive business," said board chair Haley van Leeuwen.
"It's about paying the bills and having the forecasted cash flows to do so."
The Fortune Theatre has been open since 1974, putting on over 400 shows and selling over 750,000 tickets in the 44 years since.
Ms van Leeuwen says since the theatre's opening, there has been "trials and tribulations and periods of close to insolvency".
She added that now was the time "to draw a line in the sand".
Associate Minister for Arts, Culture and Heritage Grant Robertson says "It's a very sad development, The Fortune Theatre has been a critical part of professional theatre in Dunedin and NZ for over 40 years.
"Creative NZ have assured me that they are committed to professional theatre in Dunedin and they're going to be working with the City Council and other interested parties to look at a new model."
Newshub.
