Wednesday, December 31, 2008

Playbill News: San Francisco's Magic Theatre Is in Peril; Will Close Without Cash Infusion:

Magic Theatre, San Francisco's 42-year-old troupe that prizes risk over commercialism, has announced on its website that it is $600,000 in debt and will shut its doors Jan. 9, 2009, unless it raises $350,000.

The debt, "combined with sharp declines in earned and contributed revenue due to the global economy, place us in imminent peril of shutting our doors," according to a Magic statement.

The not-for-profit troupe is now "in the midst of a staff shutdown" and "may be forced to cancel the remainder of its season and close for good."