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Pasadena Playhouse Files for Bankruptcy
Dark since February of this year, the historic Pasadena Playhouse has announced they have filed for bankruptcy, and hope to reorganize and re-open, according to the SGV Tribune. Despite having a $1-per-year lease from the city of Pasadena, the theatre, open in 1917, has been in dire financial straits in recent years. When they reached their breaking point a few months ago and closed up, all the staff except "[Executive Director Stephen] Eich, Artistic Director Sheldon Epps, an accountant and an assistant were laid off." At that time, they had $500,000 in bills in addition to $1.5 million owed in loans, and funds that could only be used to refurbish the structure.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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