After announcing its closure on social media on Sunday, Above the Stag has issued a statement today.
"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.
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!"