CURTAINS: Prince Music Theater Files For Bankruptcy

WHHYY: Just one week before the 19th annual Philadelphia Film Festival is set to begin, one of its theaters has filed for bankruptcy. For years, the Prince Theater on Chestnut Street has been fighting its mortgage lender to stave off foreclosure. But festival organizers vow the show will go on. TD Bank claims the Prince Theater is delinquent on mortgage payments. The theater owners claim they had arranged a payment plan with Commerce Bank. However, as the new owner of Commerce, TD Bank is not honoring that agreement. TD Bank has tried to foreclose on the theater four times. In the past, the theater has fought the bank with lender liability suits. Bankruptcy is its latest effort. MORE

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