Theater

The California Performing Arts Centre, also known as the California Performing Arts Centre for Children, has filed for protection under federal bankruptcy laws.

Citing $298,081 in debts against only $18,163 in assets, center director Martin Gregg said he is reorganizing--not folding--under Chapter 11 provisions of the bankruptcy code.

“We’re $290,000 in the hole,” Gregg said. “It’s not a lot over eight years, but I can’t continue (without protection). The writing’s on the wall.”

His company has presented 24 of its own musical productions since Gregg set up the nonprofit organization. It has produced such shows as “Toby Tyler” and the annual holiday show “Bah Humbug!” at the Spreckels, Fox and North Park theaters.

In 1987, Gregg converted the old Palisades roller rink on University Avenue into an 800-seat theater and has been leasing it for popular music concerts.

Gregg attributed the company’s plight, in part, to a lack of recognition. “We’ve tried to get reviewed for years,” he said. “We’ve been ignored. We’ve created an 800-seat theater . . . and we brought enough attention to the North Park Theatre that the city allocated money (in 1987 to purchase the theater) but we never got any recognition for that.”

More than half of the theater’s $298,081 debt consists of a $75,000 loan from Joel Chambers and $100,000 in back salary for himself, Gregg said. The remainder, he said, is smaller amounts owed to various vendors such as printers, he said.