RICHMOND, Va. -- Central Virginia's largest theatre company may have to close its doors for good if it does not get an "immediate infusion" of at least $600,000 within the next 11 days.
Virginia Repertory Theatre announced Thursday that "turmoil" around leadership changes last year, as well as patronage numbers not recovering to pre-pandemic levels, led the theatre company into financial chaos.
"It's a gut punch," said Klaus Schuller, who's been Virginia Repertory Theatre's Managing Director for just seven weeks.
"As we've come to the end of our fiscal year, we learned that our anticipated deficit from the last season, which we had hoped would be about $500,000, was well over a $1 million," Schuller said.
According to the theatre company, they're facing a $1.7 million deficit, and are projected to face $1.6 million in debt next year.
They say donors have withdrawn support, causing an additional $500,000 shortfall.
In a press release sent Thursday, the theatre company said its coffers are "empty," and it does not have an endowment fund to help survive the pitfall.
"Organization change is hard. It really is. And you know, there were a lot of emotions around the departure of the founders," Schuller said. "I have nothing but respect for the legacy of building a great theatre and sustaining theatre and the history of this organization, and all of the people involved. I'm laser-focused, in this moment, on what we have to do now to bring the organization forward."
According to Richmond BizSense, in January, Phil Whiteway, a co-founder of the theatre company, filed a lawsuit against Virginia Rep, alleging he was forced out of the organization due to his age.
About two years ago, Virginia Rep paid $3.5 million for Scottish Rite Temple to house children's theatre productions, educational touring programs, camps, classes, and workshops.
Artistic Director Rick Hammerly said if the theatre company can get funding quickly and continue its operations, it would likely have to scale back production.
"We're not looking to lose things, they might be smaller for a couple years until we find a way to make it management and sustainable, and then we can start to build back, and that's what we're looking for from this funding," Hammerly said. "To get us to a point where we're able to do that."
Across the street, Bar Solita owner and RVA Hospitality CEO Liz Kincaid said the closure would not only be devastating to those who work for Virginia Rep, but also for the surrounding shops, restaurants, and hotels.
"I don't think people realize how intertwined all of our businesses are," Kincaid said.
"For the months that are slow for us, and they have a show during what's typically a slow month, it's game-changing. It means that all of my employees get their 40 hours, it means that there's no layoffs, it means consistency for my business, and consistency in the neighborhood for the foot traffic for the smaller business, for the occupancy at Quirk."
Kincaid wrote a letter of public support, calling Virginia Rep "essential to the identity and success of Broad Street."
Kincaid told CBS 6 that its possible closure is personal. She and her mom would see shows together, a tradition she doesn't want to have to say goodbye to.
"You think something like your mom is always going to be around. You think the theatre is always going to be around. You think the theatre is always going to be around," Kincaid said. "It's just really sad to think about a world without the theatre. I plan to take my children there one day. To not have that opportunity is scary."
When asked how leaders would ensure trust to the theatre company staff and stakeholders that another financial crisis would not happen again, Schuller said "clear and transparent communication" would be key.
"We're an open book, ask us anything, and that is how we have to continue to operate. We're going to tell our story, and we're going to tell it honestly and openly, and we're going to reach out to every community in Richmond to be part of who we are, going forward," Schuller said.
Virginia Rep said it would be "clear, honest, and transparent" about its finances, progress, and plans to serve the Richmond community, as well as "repair and enhance" its relationships with donors, foundations, and community groups, especially "with historically underserved and marginalized communities."
Virginia Rep is asking for donations through its website. At least $94,000 was raised on the first day of the fundraiser.
“This theatre in particular has been running for decades. This legacy needs to be continued," Hammerly said.
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