Below is a link from the Wall Street Journal about the Pasadena Playhouse’s Chapter 11 Bankruptcy. It should be very interesting to follow this restructuring.
http://blogs.wsj.com/bankruptcy/2010/05/14/pasadena-playhouse-says-donors-will-fund-its-bankruptcy-exit/
Also, below is a reprint of an article from the Pasadena Star News about California’s Official Theater’s Chapter 11 bankruptcy filing.
Pasadena Playhouse files for bankruptcy
if(requestedWidth > 0){ document.getElementById(‘articleViewerGroup’).style.width = requestedWidth + “px”; document.getElementById(‘articleViewerGroup’).style.margin = “0px 0px 10px 10px”; } PASADENA – The Pasadena Playhouse announced today that it has filed for bankruptcy. “This is a necessary step in our strategy to reorganize the Playhouse for the benefit of our creditors and the Pasadena Community at large,” wrote Pasadena Playhouse Executive Director Stephen Eich in a prepared statement.
The Pasadena Playhouse has filed for bankruptcy twice since its 1917 founding. In 1969 the historic building came close to being demolished but was rescued by the city, which now leases it to the playhouse for $1 a year.
The theater went dark in February when the Playhouse’s director announced it could no longer afford to stay open. All staff, except for Eich, Artistic Director Sheldon Epps, an accountant and an assistant were laid off.
Eich has said that the goal is to find a way to work with the Playhouse’s creditors to find a way to re-open.
Read more: http://www.pasadenastarnews.com/news/ci_15062173#ixzz0o41jNATa
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