- Associated Press - Thursday, June 8, 2017

NEW YORK (AP) - The Pearl Theater Company, which took an old-fashioned approach to New York theater by assembling a resident company and producing plays written by classic authors like Tennessee Williams and Jean-Paul Sartre, has announced it is filing for bankruptcy and closing after 33 years.

The company filed a petition under Chapter 7 of the bankruptcy code Tuesday in United States Bankruptcy Court. The New York Times reports (https://nyti.ms/2rO4ux9 ) the filing suggested that the Pearl had less than $50,000 worth of assets and up to $500,000 in liabilities.

In recent years, the company has been affected by the rising rents in New York, moving from its original home downtown to 42nd Street.

The announcement comes after the company recently closed a well-reviewed production, an adaptation of the novel “Vanity Fair.”


Information from: The New York Times, https://www.nytimes.com

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