Sunday, January 09, 2011

Mount Seeks Help

From the Berkshire Eagle:

Mount seeks help
By Clarence Fanto, Berkshire Eagle Staff
Updated: 01/08/2011 08:15:45 AM EST

Saturday January 8, 2011

LENOX -- The Mount, home of the Edith Wharton Restoration and one of the county's iconic historic-house museums, is facing potential financial peril again: It's actively seeking a new lender to assume total debts of $5.2 million and pursuing a financially strong partner to share the spacious property off Route 7 & 20 and form a strategic alliance.

In response to ongoing operating losses, a slowdown in contributions, and a formidable $1 million "balloon" repayment to two principal creditors due at the end of May, the staff was cut by one-third, from nine to six, in November.

"We've talked to a number of cultural organizations but we haven't found the right fit yet," Executive Director Susan Wissler told The Eagle this week. "It would be at least part of the solution."

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