By PATRICIA BLAUFUSS
Stamford Theatre Works is in the process of discontinuing its programming and dissolving its theater operations after 20 years of producing professional Equity theater in Stamford, Connecticut.
Steve Karp, STW's founder and producing director, said, "Over the last five years, our ability to raise money could not keep pace with our increasing operating expenses, and we found ourselves with an overwhelming accumulating deficit that has left us without sufficient resources to produce the currently scheduled production of 'Almost, Maine' or a realistic projection of how we can produce the rest of the season."
For some time, Karp had explored options within the Stamford community to keep STW open. The theater suffered in recent years from severe reductions in funding caused by the disappearance of corporate support and from major individual donors who have either passed away or moved from the area. Ticket sales accounted for only half of the annual income budget.
"STW's 1,300 subscriber base has remained strong, and our near-90% annual subscriber renewal rate is at the high-end of industry standards," stated Karp. "Our press reviews have been consistently positive, and our 'word-of-mouth' the envy of our theater competitors. Clearly, and despite the fact that not every play we produce is going to be a hit with everyone, we are not closing because of a disappointing product, or because of any appreciable loss of audience interest in our work."
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