Members of the Priestley Centre have joined forces to stage two fundraising shows this weekend, in a last ditch attempt to save the theatre.
The shows will feature an exclusive preview of a song aiming to make next year's Eurovision Song Contest.
The Priestley raised £4,000 from last week's production of The Cherry Orchard - attended by about 1,500 people - and it received a £1,000 anonymous donation following the Telegraph & Argus campaign.
But it still needs to raise another £5,000 to avoid falling into voluntary liquidation at the end of this month.
News that the Priestley could close left children attending its theatre school in tears - and they set about organising a Saturday afternoon variety show to raise funds. Now other theatre members are planning an evening fundraiser as well.
The Priestley's education director Maralyn Adey said: "Everyone is working really hard. They're determined to do all they can to save their beloved theatre.
"The children rallied round as soon as they heard about the threat to the Priestley. Their show is a readathon and singathon, featuring poetry, prose, and popular songs. They're planning it all themselves and it's pretty much under wraps, so it will be quite a surprise on the night."
She added: "A lot is pinning on this show. The T&A campaign has been fantastic for us, but we're not there yet."
The evening show - called Saturday Spectacular - will feature dance, drama, music, sketches and monologues.
It will include a performance by Skin Deep, a six-piece band from Leeds, which aims to be next year's British Eurovision entry.
Skin Deep's manager Robin Rogers said: "We have entered A Song for Europe, which decides which song goes to Eurovision. Our song is an anthem called Every Woman, Every Man and nobody has heard it yet, so the Priestley audience will get a first. It's the band's debut live performance."
Also appearing in the show is Indian dancer Balbir Singh, from the Annapurna Dance Company.
And the show will include a rare performance by Priestley Centre director Christiaan Hohenzollern. A former professional ballet dancer who trained at the renowned Vagonova Ballet School in St Petersburg, Christiaan has danced with ballet companies around the world.
He helped set up the Priestley's dance school - which has Royal Ballet-trained tutors
"I haven't danced in quite some time, but this is something I wanted to do for the Priestley," he said. "Everyone has rallied round to organise this show - it promises to be a great night."
The children's show starts at 2.30pm. Admission will be a donation to the appeal fund. The Saturday Spectacular starts at 7.30pm. For tickets which cost £8, (£6 concessions) ring (01274) 820666.
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