The Kevin Spacey Foundation will shut down in the UK on Wednesday (28 February), according to the trustees of the charity, which was created to encourage young people to get involved in the arts.

The closure comes after several men accused Kevin Spacey of sexual harassment and assault last year. Last month, British police revealed that they were investigating a third sexual misconduct claim against the House of Cards actor.

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"The Trustees have reached the conclusion that the work of the Kevin Spacey Foundation UK is no longer viable and as such the Foundation will be closing on the 28 February 2018," a statement on the foundation's website read.

"The Trustees hope that the objects of the charity will be taken forward by other organisations," the statement added.

The charity was founded in 2008, while Spacey was artistic director of the Old Vic theatre in London, a position he held until 2015.

It was spearheaded by drama teacher Steven Jackson-Winter. He is said to have left the foundation in November after allegations against Spacey surfaced. In recent months, the foundation has curtailed its social media presence.

Actor Anthony Rapp was the first to accuse Spacey of assault. He claimed that the Emmy-winning actor had made multiple sexual advances towards him in 1986, when he was 26 and Rapp was 14-years-old.

"He picked me up like a groom picks up the bride over the threshold. But I don't, like, squirm away initially, because I'm like, 'What's going on?' And then he lays down on top of me," Rapp said.

Spacey responded to the allegations by issuing a statement in which he said that he chose to "live as a gay man."

After the allegations emerged, Spacey was fired from his Netflix show House of Cards and Ridley Scott's film All the Money in the World.