Farmer declined to comment, referring questions to administrators.
BRI Ferrier director John Keenan said he had suspended the shows while he looked to recapitalize and restructure the theater company so it could resume operations.
Keenan said cost-of-living pressures appeared to have dampened demand for tickets to the company's shows.
“The effect of this has been a reduction in income and donor support and has led to serious financial problems,” he said.
Keenan said the company “probably needs a few hundred thousand dollars,” which he said was modest compared to other troubled businesses he has dealt with.
He said ticket holders should try to get a refund through a chargeback through their credit card provider.
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The company bills itself as creating culturally diverse and socially driven works such as overflowwhich is set in a nightclub toilet and focuses on the fight for transgender acceptance and equality.
Financial documents filed with the Australian Not-for-profit and Charities Commission show the charity that runs the theater company made a profit of $191,000 in 2023 after receiving just under $1 million from dollars in government funding.
It also received emergency funding from philanthropic sources last December and was seeking donations on social media earlier this month.
However, the company's show failed to strike a chord with audiences, as box office sales fell to $2.4 billion last year from $3.3 billion in 2022. It also have significant declines in bar sales and donations in 2023 compared to the previous year.
Sydney Mayor Clover Moore said the council would work with administrators to determine the company's financial position “and consider options for the future operation of the theater once we have more information”.
“This comes at a difficult time for the creative sector as running costs rise and many organizations continue to struggle to recover from the impact of the pandemic,” Moore said.
A Create NSW spokesman said it was always a concern when a cultural organization goes into administration, but the NSW Government will not bail out the theater company.
“At this stage, the government has no plans to provide additional support to the business,” he said.
