Friday, January 29, 2010

pasadena losing the playhouse?

l.a. times has bad news for pasadena:
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.


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