The Royal Opera House is planning to put a rescue package together to save London's Theatre Museum.
The museum, which is part of the capital's Victoria and Albert Museum, is under threat because it had a £2.5m lottery grant bid turned down.
Royal Opera House chief executive Tony Hall said although financial obstacles had to be overcome it would explore what it could do to aid the attraction. The Theatre Museum, which opened in 1987, houses theatrical memorabilia.
Among the exhibits at the museum, which is next door to the opera house in Covent Garden, are Sir Laurence Olivier's costume from Richard III and Noel Coward's make-up box.
Supporters of the museum include Dame Judi Dench, Dame Diana Rigg and Vanessa Redgrave, who have written an open letter calling for it to be saved.
'Make a difference'
"I think it would be very sad if the museum were to close. Tens of thousands of people go through the museum," said Mr Hall.
"One option would be to move it from Covent Garden to South Kensington but I think that would be a tragedy. The museum is now in the heart of theatreland.
"All of us here feel we want to make a difference to the Theatre Museum, and the Royal Opera House would benefit."
He said if any potential rescue package would have to cost little money and that it was not certain if was possible to save it.
"We just need an exciting programme which can attract money and visitors," said Mr Hall.
"There are some very hard financial and other obstacles to overcome but we have a couple of months before the next board meeting to explore what we can do.
"We need to think what we can do for nothing, or for very little money? To be honest, maybe the answer will be no, but in life you think, let's try to make a difference."
Other exhibits at the museum, which is now in a run-down state, include set designs, review cuttings and costumes.
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