Shakespeare at the Tobacco Factory has announced it will stop producing plays after 21 years.
Sited at Bristol's Tobacco Factory Theatres, the theatre company received £50,000 from the first round of DCMS' Culture Recovery Fund but says can no longer produce without further grants.
The grant enabled the theatre to present a new production of Shakespeare's Sonnets and develop a podcast, What Would Shakespeare Do in a Pandemic?
It will use its remaining funds to establish a small annual bursary for theatre students, expected to launch before the end of the year.
"Whilst it is with a heavy heart that we have taken this decision to bring our touring productions to a close, we are delighted that our new bursary will continue to support actors and creative practitioners in Bristol and its surrounds," Chair of Trustees Kerrie Hunt said.
"We are indebted to the talented and dedicated actors, freelancers and management teams with whom we have worked so closely during this time and proud to have helped to foster the next generation of Shakespearian theatre professionals."