The Sherman Theatre has announced that "to ensure its survival and ongoing sustainability the theatre will remain closed until spring 2021."
Though it has moved its entire live season to next year, the venue has said that it will present a major audio theatre series to keep audiences engaged and excited while closed.
Productions moved to next spring include Brad Birch's version of An Enemy of the People and Christmas productions of A Christmas Carol and The Elves and the Shoemaker.
The venue's co-production of Romeo and Julie with the National Theatre has been cancelled, but with hopes to stage the show further down the line.
Artistic director Joe Murphy said: "It has been over three months since we have been able to welcome audiences in to the Sherman. And it is a heart-breaking decision to extend that period of closure until 2021. But the situation we face is a real and existential one. By keeping the building closed we are doing everything we can to ensure the survival of the Sherman and the Welsh theatre sector: tough decisions now will hopefully avoid having to make even harder ones in the future. "