Video report by Victoria Grimes
The Grand Theatre in Blackpool is facing closure after having its revenue streams stopped because of the Covid-19 pandemic.
The theatre has been open for more than 125 years, but bosses say that without more financial support they won't survive.
The theatre's annual pantomime has already been cancelled because of social distancing rules, with officials not prepared to fund a show that might not be able to be seen.
There are also fears that staff could be facing redundancy.
Video report by ITV News correspondent Damon Green
There are also fears that another famous North West entertainment institution, The Cavern Club in Liverpool, could face closure.
The club has said it is losing around £30,000 a week during lockdown and has had to make several members of staff redundant.
The Cavern's survival depends on a bid to the government's cultural recovery fund, a Liverpool City Council spokesperson said.