A petition to save the Vancouver Playhouse Theatre Company has garnered 845 signatures and counting, but the chair of the company’s board says the organization has not yet received any offers to dig the company out of the financial hole in which it is buried.
On Friday (March 9), board chair Jeff Schulz and artistic managing director Max Reimer announced that the company would be ceasing operations following the final performance on Saturday of Hunchback.
Today, said Schulz, the company served notice to its employees, and will soon begin the task of paying off creditors.
“We’re giving notices to everyone today, so pending something miraculous happening, it is still curtains,unless somebody comes forward.” he told the Straight by phone. But he did hold out one small glimmer of hope: “We’re going to try and make a few asks in the next little while to see if there’s somebody that might be interested, but we have to proceed as we had announced.”
Should a benefactor emerge, said Schulz, the company would not attempt to reinvent itself or assume a new model. “I think we would continue in the current model for the time being, and continue to work to find ways to improve the company longer-term. We actually were having an okay year this year, it’s just we ran out of cash and were unable to service our debt anymore.”
According to Schulz, in order to survive, the company would require a cash injection of $1 million this year, and $500,000 annually for the following two years.