A Wednesday, September 9, e-mail announced the closure of the dinner theater located near Brown and and Higley roads formerly known as Broadway Palm.
"It is with our deepest and most sincere regrets that we must announce the closure of The Palms Theatre, effective immediately," the note opens. The statement goes on to add that the theater faces mounting debt that it's unable to repay.
It's not the first time the 43,000-square-foot venue theater has had financial issues. Nor is it the first time it's closed.
The Broadway Palm opened in 2001 and ran for 11 years before shutting down in the summer of 2012. Later that year, the space reopened and was subleased to new management as Silver Star Playhouse. Silver Star ceased operations less than a year after that. Following renovations, The Palms Theatre opened its doors in fall of 2013.
"We gave it our very best, unfortunately the economic realities and enormous overhead required to maintain an operation of this magnitude proved to be more than the market could bear," the e-mail says.
Due to lack of funds, the theater will not be able to refund ticket purchases made for its upcoming season. However, the statement notes that a prominent arts organization in the Valley has agreed to honor 2015-16 Palms tickets. Complete details will be announced soon, according to the e-mail.