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July 29, 2010; Source: New York Times | Some arts groups are just hitting a wall as they look at closing out a second year of declining revenues. The Cherry Lane Theater in Greenwich Village is just happy it doesn’t have to file for bankruptcy. The 179-seat Theater, established by colleagues of Edna St. Vincent Millay in 1924, has closed its main stage to its own productions this year after experiencing a real downturn in income from just about every direction. Now looking at a deficit of almost $170,000 it has decided to take a season off and reorganize. The artistic director, Angelina Fiordelisi expresses both heartbreak and resolve. The board appears to be taking a strong role in re-planning but Fiordelisi has a very heavy investment in the theater, having, according to this article, poured $7.7 million of her own money into the building that houses the institution and an endowment for the theater.  It will be an interesting story to watch unfold.—Ruth McCambridge