Surflight's goal is to reorganize through Chapter 11 by "restructuring its finances and stabilizing and rebuilding its future." The new season is being prepared, despite the burden of a $4 million debt.
"A five-person advisory team with expertise in entertainment, business and finance has been working for the past six months reviewing every viable option and has reported its recommendations to Surflight's board of trustees," according to a statement. "As a result, the board has adopted a two-part plan that will be undertaken concurrently."
New board president Lance Wimmer said, "First, the Chapter 11 case will address and reduce Surflight's excessive debt. Second, Surflight will immediately implement an operating plan centered on programming designed to infuse cash quickly to stabilize Surflight's financial condition and also support the financial restructuring."
Surflight producer Roy Miller is putting together a 62nd season, to be announced soon. The season, curated by Miller, producer of Broadway's The Drowsy Chaperone, will feature shows and concerts that will feature some of Broadway, film and television's biggest stars.
Surflight also intends to continue operating Show Place Ice Cream Parlour with its ever-popular singing wait staff. The theatre's education programs, a major part of Surflight's mission, will also continue to serve the community without interruption. Recently, Surflight raised over $350,000 in donations in a special "Save The Surflight" fundraising campaign. Wimmer added, "This outpouring of community support has been essential in dealing with the financial struggle to this point. We are grateful to everyone for their efforts and donations over these past few months. We are very encouraged by what the future holds for Surflight, and in turn, we urge everyone to continue supporting the theatre by making a tax-deductible donation."
For additional information and to make a tax-deductible donation, visit www.surflight.org.