The Vault Festival has announced its permanent closure due to funding challenges. Despite efforts to secure a new venue, the festival’s journey comes to an end.
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Audio PlayerIt is with immense sadness that we announce the closure of VAULT Festival and the cancellation of plans for our new London home, after failing to secure the funding required to continue.
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— VAULT (@wearevault_) March 13, 2024
The Vault Festival began in 2012, showcasing theatre, comedy, and performance arts in the underground of Waterloo station.
The festival faced setbacks exacerbated by the pandemic, culminating in the cancellation of its 2022 edition. Following this, its long-time venue decided to pursue commercial redevelopment, displacing the festival.
Despite plans for a new home, with fundraising efforts made, crucial funding for the festival failed to materialise.
In a public statement released on March 13, 2024, the organisers express sadness over the closure and its effects on their operations and staff.
The festival’s Co-founder and CEO, Andy George, told City News “The creative industry of the UK is more diverse because of our work over the past 12 years, and we’re proud of that.”
He adds that he feels an “immense amount of grief and sadness” for “what they lost” and the opportunities that “vanished” for those who worked with the festival.
George attributes the festival’s closure to “a series of systemic hurdles”, including “austerity measures, Brexit, and the pandemic.”
