Surflight Theatre Announces Plan to Restructure Finances

Surflight Theatre, in Beach Haven, New Jersey, has filed for protection under Chapter 11 of the Bankruptcy Code, so that it can restructure its finances. The theater currently has a $4 million debt that has depleted its cash reserves.

Surflight’s Board President Lance Wimmer describes a two-part plan, that was made in consultation with an advisory team over the last six months: “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.”

In the meantime, the theater plans to go forward with its 62nd season, which is expected to be announced soon. It also intends to continue operating Show Place Ice Cream Parlour with its ever-popular singing wait staff. The theater’s education programs will also continue to serve the community without interruption.

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