The San Jose Repertory Theatre announced Wednesday that it has ceased operation and plans to file for bankruptcy immediately.
The board of trustees of the 34-year-old non-profit theater company said in a statement that it had taken this step reluctantly and only after numerous attempts to find ways to continue operations.
"We deeply regret having to take this action because of the impact it will have on our 51 employees, the artists we work with each season, our season ticket holders, loyal patrons and generous donors and supporters," said Holly Walter, the board's president.
"We also regret the impact on the city of San Jose and the local arts community," she added.
In a statement, Walter said:
"However, after months of trying to solve our financial issues, reduce our debts and construct a sustainable model for the organization, we felt we had no choice but to take this action.
"We want to thank everyone who has supported us during the past 34 years, including our committed donors and subscribers, volunteers, artists, and the city of San Jose. We owe a deep debt of gratitude to everyone.
"San Jose Rep has a 34-year history of providing professional, award-winning theater and outreach and education programs for the community, and we're saddened that this history has come to an end."