THEATER FACES SUMMER CLOSINGS

The Shubert Theater, home to the world premieres of all of Rodgers’ and Hammerstein’s musicals, may soon be bringing its curtain down on summer shows only a year after a $5.3-million face lift.

Under mounting financial pressures, the downtown theater has stopped booking shows and will likely be dark from April until September to save money, except for the nights it is rented, officials said.

They estimated that the Shubert would lose $800,000 in two years, even with a $1.7-million city subsidy.

The news comes just 13 months after a star-studded gala kicked off the rebirth of the Shubert in what officials called the centerpiece of the city’s rejuvenation. It followed seven years of darkness and decay at the theater.

Despite officials’ admission of financial needs and management troubles, the theater’s bankers have pledged to stand by.

“They are on a high learning curve and are simply suffering growing pains,” said F. Patrick McFadden, vice chairman of Connecticut National Bank. “We’ll be happy to look at another proposal (to lend the Shubert more money),” he said. “We’ve been their bank from the start of this thing. It’s damn important to the city of New Haven to see that it succeeds.”