Legal drama for Ocean State Theatre Company

May 24, 2017 6:23 pm

By: Rebecca Turco

Email: rturco@abc6.com

Twitter: @RTurcoABC6

Facebook: RebeccaTurcoABC6

WARWICK, R.I. – We’re learning more about the financial struggles plaguing the Ocean State Theatre Company.

Court documents show the theatre’s landlord is suing, claiming the non-profit owes more than $860,000 in back rent and other charges.

In a statement, Mutual Properties claims Ocean State Theatre owes them more than $1-million total.

Tax filings over the years show the theatre company’s debts go deeper. In 2015, Ocean State Theatre Company was more than $2.2-million in debt, according to the 990 Form from the 2014 fiscal year.

The non-profit moved to Warwick in 2012. The theatre closed its doors Tuesday night.

Tom Gleadow, an equity actor, has done several productions with Ocean State Theatre over the years. "This comes as a huge shock to me," he told ABC6 News. "There’s so many people who work over there who are losing their jobs. Horrifying."

But the theatre itself may not have had its final curtain call. Mayor Scott Avedisian had this to say to reporters: "The landlord has assured us that there is a new theatre venture that he has been working with to come into that space."

Avedisian would not comment further, except to say he is optimistic. "We’re hopeful that we can keep that location as a good center for the arts in the city of Warwick."

Stephen Soscia, managing member of Mutual Properties, issued this statement Wednesday:

We regret the decision made by Ocean State Theatre to abruptly close its doors. We worked cooperatively with them for the five years they were our tenant, and on several occasions, restructured their 21-year lease to de minimis rental amounts to meet their cash flow. In short, we afforded them every opportunity to restructure their obligations which today exceed one million dollars, and assist them with a smooth, seamless transition to insure their future success. In the end, however, they were unable to do so. As their single largest donor, we were surprised by their abrupt closure as we had been informed that they intended to remain through July of this year, and then would relocate to another location. Several attempts to meet with artistic director, Amie Turner, yesterday were unsuccessful and we later learned she was on route to North Carolina. Mutual Properties remains supportive of a vibrant arts community in Rhode Island.

As for season ticket holders and other customers who have already paid money to Ocean State Theatre, what’s next is still unclear. The company is holding onto patron records, but hasn’t said whether it will offer refunds.

ABC6 News reached out to several members of Ocean State Theatre’s Board of Directors, but no one returned our calls.