Surflight Theatre Operations Continue While Stabilizing And Rebuilding

Surflight Theatre, known for its 60 year tradition of providing live entertainment on the Jersey Shore, announced yesterday that it has filed for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey. Surflight's goal is to reorganize through Chapter 11 by restructuring its finances and stabilizing and rebuilding its future.

Surflight's greatest financial obstacle to date is servicing its $4 million debt burden which has depleted its cash reserves. A five-person advisory team with expertise in entertainment, business and finance has been working for the past six months reviewing every viable option and has reported its recommendations to Surflight's Board of Trustees. As a result, the Board has adopted a two-part plan that will be undertaken concurrently.

Mapping out the plan, newly elected Board President Lance Wimmer said "First, the Chapter 11 case will address and reduce Surflight's excessive debt. Second, Surflight will immediately implement an operating plan centered on programming designed to infuse cash quickly to stabilize Surflight's financial condition and also support the financial restructuring."

Surflight Producer Roy Miller is putting the finishing touches on the much anticipated 62nd season, which is expected to be announced very soon. Miller, who is an award-winning Broadway producer, promises an exciting line-up of shows and concerts that will feature some of Broadway, film and television's brightest stars.

Surflight also intends to continue operating Show Place Ice Cream Parlour with its ever-popular singing wait staff. The theatre's education programs, a vital component of Surflight's mission, will also continue to serve the community without interruption.

Recently, Surflight raised over $350,000 in donations in a special "Save The Surflight" fundraising campaign. "This outpouring of community support has been essential in dealing with the financial struggle to this point. We are grateful to everyone for their efforts and donations over these past few months. We are very encouraged by what the future holds for Surflight, and in turn, we urge everyone to continue supporting the theatre by making a tax-deductible donation," added Wimmer.

For additional information and to make a tax-deductible donation, visit www.surflight.org to see a list of frequently asked questions (FAQ's) or call (609) 492-9477.