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Lenders to the struggling Apollo Theater said yesterday that they are committed to helping co-owner Percy Sutton find a way to make his loan payments and keep the theater's lights burning.
Just six years since the resurrection of Harlem's legendary Apollo Theater brought music, nostalgia and a new burst of business activity to 125th Street, the Apollo Theatre Investor Group, is facing more red ink than it ever imagined, according to company officials. They said the group, composed of general partner and former Manhattan Borough President Percy Sutton and his family business, Inner City Broadcasting Corp., has been trying for weeks to improve its loan terms, but still doesn't have an agreement with the lenders involved.
They are two months behind in their loan payments to the state...