Pasadena Playhouse files Chapter 11 petition
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The Pasadena Playhouse, which closed its doors Feb. 7, citing severe financial difficulties, has filed a petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code, the theater announced Tuesday.
‘This is a necessary step in our strategy to reorganize the Playhouse for the benefit of our creditors and the Pasadena community at large,’ Stephen Eich, executive director of the theater, said in a statement. No one with the theater would comment further.
At the time it closed, Eich said the theater was out of cash, faced $500,000 in immediate bills and could not make payments on more than $1.5 million in bank loans and debts.
The 90-year-old landmark theater was designated the state theater of California in 1937.
-- Kelly Scott
Above: The Pasadena Playhouse interior before one of the company’s last performances. Credit: Lawrence K. Ho/Los Angeles Times