The Bridewell specializes in presenting new musicals and rarely heard classics. In 1994, the theater opened with the second London production of Stephen Sondheim's Pacific Overtures. Since then, it has produced a variety of different works, ranging from opera to jazz.
The St. Bride Foundation Institute, which owns the Bride Lane space, was a committed financial supporter of the Bridewell and was allowing it to exist virtually rent-free until April, when the Institute itself lost funding it had previously received from the Corporation of London. In order to continue operations, the Bridewell had to come up with an extra £130,000 around $231,637 per year. The company raised enough money to stay open throughout this year, but additional funding did not arrive and therefore the Bridewell Theatre will have to vacate its space in January 2005.
"Commercial musical theater can earn millions and is the most visited theatrical genre in the U.K.," Metcalfe said in a statement. "Its vitality ought therefore to concern anyone who cares about theatre. But as an expensive form to produce, new and developing music theatre's financial needs are large. Our audiences and supporters remain generous but it is unrealistic to ask them to help raise large sums year after year when so much of the money must be spent on simply paying the rent. Much of our achievement has also relied on the commitment and generosity of the artists who have often given their time for little payment because they recognise the importance of our work; but we cannot continue expecting people to work for so little."
Despite the loss of its home, the Bridewell Theatre Company will continue to exist and present productions at various venues.