PASADENA - The Pasadena Playhouse announced today that it has filed for bankruptcy. "This is a necessary step in our strategy to reorganize the Playhouse for the benefit of our creditors and the Pasadena Community at large," wrote Pasadena Playhouse Executive Director Stephen Eich in a prepared statement.
The Pasadena Playhouse has filed for bankruptcy twice since its 1917 founding. In 1969 the historic building came close to being demolished but was rescued by the city, which now leases it to the playhouse for $1 a year.
The theater went dark in February when the Playhouse's director announced it could no longer afford to stay open. All staff, except for Eich, Artistic Director Sheldon Epps, an accountant and an assistant were laid off.
Eich has said that the goal is to find a way to work with the Playhouse's creditors to find a way to re-open.