Curtain closes at Noble Fool
Contributions fail to sustain comedy theater
Kelly Quigley
Financial troubles have forced Noble Fool comedy theater to cease operations at 16 W. Randolph St., the Loop venue that has hosted performances since April 2002.
Noble Fool Managing Director Paul Botts said the Main Stage, Studio and Cabaret stages closed this week, but the theater will continue to perform at the Pheasant Run Resort & Spa in suburban St. Charles.
"After exploring every possible alternative, the board of directors concluded with great regret that the only prudent option remaining is to close our Loop venue," Mr. Botts said in a statement. "While earned revenues at the Loop theater have been near targeted levels, contributions and sponsorships have fallen well short of the levels required to continue."
The theater is drowning in debt, thanks in part to expensive rent in the Loop theater district. Noble Fool didn't say how much money it owes.
"We hope to be able to meet our outstanding debts to the extent possible," Mr. Botts said. "The key to accomplishing that will be whether we can reorganize the organization and put it on a new and sustainable financial footing."
The theater is considering a plan to reorganize as a non-profit arts organization based at Pheasant Run, and possibly buy the resort, he said.
"The loss of the Noble Fool is unfortunate," said Brent Minor, vice-chairman of the Greater State Street Council, a group representing merchants and theaters in the area. "They filled a unique niche, and the cost was very reasonable."
He said the theater probably ran into money problems when the economy floundered and corporations tightened their purse strings. "They were a victim of the economy, as much as anything else," he said.
The space on Randolph Street caters specifically to theater, and likely will be marketed to other performance groups if Noble Fool is unable to gather enough funds to resume operations there, he said. To avoid the same fate, the new tenant will have to secure solid financial commitments from the community and corporate groups, he said.
Noble Fool's recent productions have included "Jungle Rot," a comedy satirizing CIA operations during the Cold War, and "Flanagan's Wake," a long-running show about Irish villagers mourning the death of a friend.