By MICHAEL RIEDEL
Posted: 2:57 am
August 14, 2008
THE economic turmoil on Broadway has claimed its first victim: "Godspell." The revival, which was to start previews at the Barrymore next month, has been canceled, barring any last-minute reprieve. Sources say producer Adam Epstein was short $1 million of the production's $4.5 million cost.
The actors, who were supposed to start rehearsals next week, learned of the cancellation in an e-mail Tuesday night from their director. Many had given up jobs at long-running shows and will now be left scrambling for work at a time when the economic climate on Broadway is souring.
As The Post reported yesterday, investors are pulling money out of new shows, advance sales are shaky, and raising money has become very difficult.
"The recession is here," a veteran producer said yesterday. "The good times are over."
