An investor in the Broadway show Cabaret at The Kit Kat Club has taken legal action against the production’s producers. He claims that, despite the show pulling in over $90 million, he hasn’t seen a cent of his $50,000 investment.
James Lorenzo Walker Jr., a lawyer from Atlanta, filed his complaint on September 4 in New York Supreme Court. He alleges that the producers have created a system to keep investors like him in the dark regarding the finances of the production.
The lawsuit states that Walker has not received any returns or had any access to financial records. He describes the producers’ actions as part of a broader trend in theatrical financing where outside investors are misled. He is seeking compensation, legal fees, and full disclosure of all financial dealings related to the show.
The producers, particularly ATG Entertainment, have denied Walker’s claims. They insist that they are proud of the show’s artistic achievements, but simply can’t afford to pay investors at this time due to ongoing financial challenges. In a statement, they expressed a desire to resolve matters out of court, but Walker chose to proceed with the lawsuit.
Unfortunately, the production is facing tough times. Recently, it was announced that Cabaret would close a month early on September 21. The departure of star Billy Porter, who is recovering from a serious health issue, has contributed to a decline in ticket sales. Weekly earnings have dropped dramatically, plummeting from $1.2 million to just $380,052, with a significant number of seats going unsold.
Walker, who put his money into the production shortly before it opened, has a background in successful shows like The Piano Lesson and MJ. His concerns echo a growing apprehension among investors in the theatrical world.
This situation highlights the unpredictable nature of live theater. With ticket sales fluctuating and investments at risk, it raises questions about transparency in the industry. While the Broadway revival of Cabaret has captivated audiences in the past, it’s now a reminder of the challenges faced by producers and investors alike in the dynamic landscape of theater.
For more insights on this issue, you can check out industry reports, like those found on Broadway League, which provide detailed statistics and trends in Broadway productions.
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ATG Entertainment,Broadway,Cabaret at the Kit Kat Club,James Lorenzo Walker
