After losing all Arts Council England funding, the venerable Oldham Coliseum will shut down the following month.
After the funding was cut, the theater, which has been around for 135 years, was unable to devise a rescue strategy.
The Fairbottom Street theater canceled all performances after March in January due to uncertain financial conditions.
The theater expressed gratitude to its patrons and said it would be "with great regret" that its doors would shut for the last time on March 31.
The location served as a training ground for a number of TV soap opera stars, including Anne Kirkbride (Deirdre Barlow), William Roache (Ken Barlow), Barbara Knox (Rita Sullivan), and Jean Alexander (Hilda Ogden) of Coronation Street.
The venue had received more than £600,000 a year in funding, but a restructuring that was announced in November caused it to lose its subsidy, making it the largest theater outside of London.
A spokesman for the theater issued a statement claiming that the current financial situation was "not sustainable for the running of a full-time theatre.".
"The coliseum is working with Arts Council England and Oldham Council to ensure a smooth transition period for the company," the spokesman continued. "This includes funding to enable support for our workforce and honoring commitments to artists.".
"Many of the coliseum's employees have been employed by the business for more than ten years and have spent their entire lives in Oldham.
"At this time, the company prioritizes them. ".
The spokesperson stated that all coliseum events scheduled to take place up until March 26 will proceed as scheduled and that ticket holders for all other events will receive refunds in the coming weeks.