The company went public with its financial troubles earlier this summer and launched a public fundraising campaign to remain in operation. Members of the public and industry leaders lent financial support; however, the company was unable to secure enough funding to continue its programming.

In August, TOTS canceled the entirety of its 61st annual season, which was to include The Buddy Holly Story, Anything Goes, Cats, Dreamgirls and The Little Mermaid.

TOTS released the following statement Sept. 11: "The troubled economy has resulted in underperforming seasons for the past several years, creating financial obstacles too difficult to overcome. Action steps are in the works to liquidate and wind down the organization. Subscriber's refunds will be an important part of the closing process as the company pays off debts as quickly and efficiently as it is able."

"We've had a great run," Theater of the Stars vice president Brian D. Frey said in a statement. "We could not be more grateful to our many patrons and supporters who have been a part of our family over the years. We hate to say 'goodbye.' It was a very difficult decision for all involved."

Theater of the Stars presented productions at the Fox Theatre since 1984. TOTS also presented the world premiere of Disney's High School Musical and 21 productions of Annie in its 60 seasons of operation.  Since the organization's founding in 1953, TOTS produced and presented over 700 productions in Atlanta and throughout the United States. Visit theaterofthestars.com.