The Byre Theatre in St Andrews is likely to go into liquidation next week, BBC Scotland has learned.
The theatre was originally a cow shed, but has played host to drama productions since the 1930s.
It was formally reopened by Sir Sean Connery after undergoing a £5.5m facelift in 2001.
But recent funding cuts left the theatre unable to produce its own shows.
However, it has been in demand as a touring venue, and was due to host several concerts for the forthcoming Fife Jazz Festival.
These will now be held in St Andrews town hall instead, while a booking for a charity event in the theatre next week will also be honoured.