Pasadena Playhouse Reorganizes Under Chapter 11
Pasadena Playhouse, the State Theater of California, announces that last night it filed a voluntary petition for reorganization under chapter 11 of the U.S. Bankruptcy Code in Los Angeles. The Playhouse is represented by Munger, Tolles & Olson LLP.
"After a thorough and careful review of Pasadena Playhouse's financial state and with advice of legal counsel, we have elected to file chapter 11. This is a necessary step in our strategy to reorganize The Playhouse for the benefit of our creditors and the Pasadena Community at large," said Pasadena Playhouse Executive Director Stephen Eich.
"We are optimistic that The Playhouse will emerge from chapter 11 and are thankful to our Board, staff, volunteers, Friends and Alumni of the Pasadena Playhouse, our corporate sponsors, and many of our subscribers for their continued support. We are moving forward in our goal to resume our role in producing exciting theatre for Pasadena and the surrounding communities," said Pasadena Playhouse Artistic Director Sheldon Epps. "The Playhouse is also thankful for the generosity of Munger, Tolles & Olson LLP for their pro bono representation."
Pasadena Playhouse, the State Theater of California, was established in 1917. In recent years, The Playhouse has become instrumental in launching new works and landmark revivals for the American Theatre. The Playhouse has displayed a commitment to cultural and theatrical diversity, which is reflected in seasons featuring Tony and Pulitzer award-winning plays. Highlights since 2005 include the launch of the national tour of Purlie (with the Goodman Theatre), the world premiere of Sister Act the Musical (with the ALLIANCE THEATRE, which is now in its eleventh month in the West End), the world premiere of Ray Charles Live! (now titled Unchain My Heart, The Ray Charles Musical scheduled to open on Broadway in November 2010), and the world premiere of Looped starring Valerie Harper (opened on Broadway at the Lyceum Theatre in March 2010).