A New Jersey theater went into financial distress only months after it opened in May of 2010, according to a report from the Press of Atlantic City.
The Landis Theater Performing Arts Center worked with what theater staff called an “unrealistic” budget, according to the Press of Atlantic City.
Theater officials told city council members in Vineland of the financial issues during a meeting Thursday.
According to the Press of Atlantic City, the theater’s budget was developed by a West Coast firm that theater operators said had little understanding with the East Coast and Vineland’s demographics.
According to the report, an executive summary prepared by theater operators reported the theater was nearly $100,000 in debt, with accounts more than 90 days past due.