The nonprofit Stage 1 Theatre Company is closing.
The theater facility, located at 9130 Dickey Drive in Mechanicsville, recently completed its inaugural season with a production of "Summer of '42."
Founding artistic director Chase Kniffen said that while audience support was encouraging, the economy indicated that the theater wouldn't be able to successfully produce an entire 2009-2010 season.
"We looked at as many options as possible, but current economic realities make it impossible to ensure financial sustainability for the coming year," Kniffen said. "Ending now, we can end responsibly, with our heads held high."
The facility will continue to be leased and operated by Shuffles Dance Center, which is housed in the same building.
Stage 1 Theatre Company opened in November with a production of "tick, tick . . . BOOM!" and staged other shows, such as "Normal" and "Children's Letters to God."