NextStage Entertainment Corp., operator of the new $65 million, 6,350-seat NextStage theater in Grand Prairie, Texas, outside Dallas, filed for Chapter 11 bankruptcy protection on August 1. Grand Prairie paid $15 million to own the six-month-old facility but it is leased and operated by Houston-based NextStage.
"We think it's going to be good in the long run," City Manager Tom Hart told the Fort Worth Star-Telegram. "The facility has gotten nothing but rave reviews. We are just hoping for good, new management."
City officials have already met with two or more groups interested in taking over the theater's operations.
"We believe this action is in the best interest of all constituencies and that, in the hands of the right operator, NextStage can be a successful operation," stated Michael P. Monaco, the interim CEO of NextStage Entertainment.
Concern about the venue's relatively few bookings since its February debut was raised as early as last week. Concerts and events already booked will proceed as scheduled.