I heard on the news a couple of nights ago that the beautifully restored Gillioz Theater in downtown Springfield is under foreclosure. At the stroke of midnight on December 31st, the Gillioz will belong to the bank. The wonderful folks at Guaranty Bank saw fit to pull the rug out from under the theater, and the adjoining Netters Building, just as they were getting their feet under them. The Gillioz, which is owned by the Springfield Landmarks Preservation Trust, was actually operating in the black for the first time since the massive restoration and reopening several years ago. They took a decaying downtown landmark and breathed new life into it. The last I heard, some 70,000 dollars had been donated by the fine folks of Springfield, to stave off foreclosure, but unfortunately, that falls far short of the minimum 1/2 million they will need to keep the doors open. It seems that Mr. Potter is alive and well and has controlling stock in Guaranty Bank this Christmas season. As Mr. Potter said... "George, you're worth more dead than alive". It's a shame that the board of directors of the bank that holds the note (many of whom live right here in Springfield) would allow this to go through. With them, it seems that there is no concern or consideration for the greater benefit to the community in allowing the Gillioz to remain open. The arts be damned... this is about the bottom line. Sad indeed.
1 comment:
That is sad. I didn't know that. Those old theaters are a treasure.
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