By Howard Pousner
Theatre in the Square, one of Atlanta’s oldest troupes, has decided to close its doors.
The 30-year-old Marietta company sent an e-mail to supporters late Monday announcing that it was shutting down operations immediately, and that it would not accept a $30,000 emergency contribution approved by the Marietta City Council last week.
“After three days of board deliberations and financial analysis, we have decided that it is not feasible for us to finish our current season or launch a 31st season,” board chair Mike Russell said in the e-mail. “We simply do not have the money.”
Russell said the board was “incredibly moved and grateful” for the 11th-hour contribution from the city, but that it wasn’t enough to sustain operations. “We can’t accept the funding in good conscience knowing that we will still have to close our doors in a matter of days,” he said.
After raising $375,000 late last year in an emergency fund-raising drive, the theater was working toward raising another $400,000 by the end of June to help retire all of its debt. But to date, it had only raised $83,000 toward that goal.
“We just don’t see any indication that we will be able to bring in that amount of money, much less additional funds required to launch a new season,” Russell said.
Check back with ajc.com for more details this evening.