Playbill: The North Carolina Theatre (NCT), which is the largest professional theatre company in Raleigh, North Carolina, has announced it is filing for Chapter 11 bankruptcy, due to external forces during and after the pandemic. While the company undergoes financial restructuring, the remainder of its 2024 season will be suspended.
2 comments:
This one hits close to home; I’m from Raleigh, NC, and while I’ve never done any shows with NCT, I know a lot of people that I started theatre with that did. Even people in the administrative offices. From what I’ve heard, and seen in their 990s, NCT has been having a funding issue since way before the pandemic. It looks like they have consistently been in the red for almost the past decade. Most of the people I know who have worked there were not surprised by them filing for bankruptcy. I also found it interesting that there was never any mention of their Artistic Director stepping down. In the board’s press release statement, nothing is said about it. However, the same day that the press release went out, the, now former, Artistic Director posted on social media about his stepping down from his position. So, unless you follow him on social media, you wouldn’t know that he is no longer working for NCT.
I am a camp counselor in North Carolina and close to this theatre. I have heard from so many kids and other counselors about them going to this theatre and having an amazing time. It is so heartbreaking to know that another theatre is being brought down to the point where they have to cancel this season’s shows. The theatre’s downfall stemming from the pandemic is so disheartening but also I think that so many people might think that the pandemic's effects have already run its course that it is odd that it is still happening at this moment. When a theatre has to suspend the season’s shows it is understood that their budget has affected them so poorly that they cannot waste any of the materials that they have left. It is a good thing that they are going under financial reconstruction because that means this regional theatre will soon hopefully be back to its full capacity.
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