The Wyvern Theatre is marking the achievements of Swindon Arts by renaming one of its performance spaces.

Swindon Arts, the organisation that put together various Swindon festivals including the Swindon jazz, film and think art festivals, will be shutting down after 14 years on Wednesday.

To commemorate the hard work of the organisation, the Wyvern Theatre has taken the step of re-naming Studio 1 at the theatre to Swindon Arts Studio.

Coun Maurice Fanning (Lab, Gorse Hill and Pinehurst), chairman of Swindon Arts, said: "I have been here since the birth of Swindon Arts when it was the Thamesdown Foundation for the Arts.

"It has done much work for the town but funding has evaporated. But perhaps one day we can rise again like a phoenix from the fire."

Ted Doan, general manager at the Wyvern Theatre, said: "We have helped to support Swindon Arts over the years by providing space for free to allow them to put on shows and displays and we wanted to mark the achievements permanently by changing the name of Studio 1."

It was decided in December last year that Swindon Arts was no longer commercially viable. But the work of the organisation will live on in the form of an annual prize.

Called the Maurice Fanning Think Art Prize, it will celebrate the work of a single artist each year. The first prize will be given out in June.