The composer told the Daily Telegraph that overseas buyers could take advantage of the precarious financial position that UK theatres find themselves in. It comes as the national advisory body for theatres warned box office revenue is down by more than £300m over the course of the lockdown, threatening venues with closure.Ī report from Oxford Economics previously predicted that the virus would lead to a ‘cultural catastrophe’ with more than 400,000 job losses and a £74billion loss in revenue across the arts industry.Īndrew Lloyd Webber previously warned that Chinese investors could be set to buy up London's West End theatres. 'Without our theatres being ablaze with life, London cannot properly reopen as one of the world's greatest cities.' 'It is time this is recognised and the Government takes action to ensure this priceless resource at which the British people excel is helped to survive. 'The commercial theatre provides billions of pounds of revenue to the economy. 'Everything I have made has come from the theatre and everything I have has gone back into these magnificent historic buildings that I have lovingly restored and the spectacular productions I have painstakingly insisted remain in tip top shape wherever they play in the world - resulting in my being one of the biggest employers in the theatre. 'This has forced me to take drastic steps to ensure that I have the resources for my business to survive and enable my shows and theatres to reopen next year when we are permitted to. 'Their inability to say when the impossible constraints of social distancing will be lifted makes it equally impossible for us to properly plan for whatever the new future is. ![]() ![]() ![]() Musical giants Les Miserables, Mary Poppins and Hamilton will not return to the West End this year
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