Workers at a 186-year-old entertainment venue in Stroud have been offered redundancy.
Subscription Rooms, which runs music and comedy gigs, will temporarily close. A £29,000 grant from local authorities last year is "not sufficient to continue to trade," a Stroud Town Council document says.
The report says: "One important learning point is that there should have been more work in shifting the culture of organisation away from the previous council environment, which was very much focused on minimis[ing] expenditure, rather than community engagement and involvement."
Stroud Town and District councils said running costs have already been cut by 25% but more must be done.
"The [Subscription Rooms'] Trust are reviewing the staff structure to make sure they can afford to pay the people they need to survive."