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The Pasadena Playhouse to close due to financial woes

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Liberal_in_LA Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-29-10 02:39 PM
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The Pasadena Playhouse to close due to financial woes
The Pasadena Playhouse will close Feb. 7 after the final performance of its current production of "Camelot," leaving its future in jeopardy as company leaders explore ways out of its financial woes, including a possible bankruptcy filing.

Stephen Eich, the executive director hired last June to run the theater, said 37 employees learned at a staff meeting Thursday that they would be out of work. The playhouse is essentially out of cash to continue running, he said, and faces more than $500,000 in immediate bills, plus more than $1.5 million owed on bank loans and other debts that have dogged the nonprofit company since the mid-1990s.

Founded in 1917, the Playhouse was designated in 1937 as the state theater of California.

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The playhouse made its name nationally starting in the late 1920s, when, in addition to staging plays, it was home to a university-level theater training program that also featured a branch operation in New York City. Nick Nolte, Charles Bronson, Robert Young, Raymond Burr, Dustin Hoffman, Gene Hackman and Sally Struthers were among its students or staff members

http://www.latimes.com/entertainment/news/arts/la-et-pa...
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niyad Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-31-10 08:18 PM
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1. sad news indeed
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Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-31-10 08:32 PM
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2. capitalism destroys the arts.
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Bluebear Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-31-10 08:57 PM
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3. It should be a protected cultural icon. How sad!
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mnhtnbb Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-31-10 09:02 PM
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4. My aunt and uncle were graduates of the Pasadena Playhouse and
have been supporters for years. It will be a sad day for them to see it close.
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