With productions fleeing the city after the state's tax credit program ran out of money, a popular prop house's parent company is trying to weather the storm. Props for Today, which has been around for 28 years, hooks up shows like Saturday Night Live and 30 Rock with furnishings, and Crain's reports that owner Dyann Klein will attempt to "reorganize" after a rough year. Klein said, “The decrease of film making and television in New York, which began with the writers' strike and has continued and been escalated by the loss of the tax incentives, has impacted everybody in this industry."

Props for Today—and Klein's other company Props for Yesterday—pay rent to Interieurs Inc., which has a lease with Vornado at West 34th Street. According to Crain's, Interieurs owes just under $1 million in rent and has filed for Chapter 11. In the meantime, maybe local Michel Gondry can help some productions in need of props with his cardboard boxes. Update: Klein explains, "Interieurs,Inc, which is the tenant under the lease with our landlord, filed for Chapter 11 bankruptcy protection due to the failure of efforts to resolve a dispute with the landlord. PROPS FOR TODAY has NOT filed for bankruptcy protection" and remains in business. Full details from Klein's lawyer below:

Interieurs, Inc. is the entity which filed on March 3, 2009 a petition for relief under chapter 11. It is wholly owned by Dyann Klein, who is the president.

Interieurs is the tenant under an Agreement of Lease pursuant to which it is possession of the premises at 330 West 34th Street in New York City. Vornado 330 West 34th Street L.L.C. is the landlord.

The premises are occupied by Props For Today, Inc. and Props From Yesterday, Inc., each of which is wholly owned by Dyann Klein. Interieurs’ only business activity is to serve as the landlord for these affiliates. Dyann Klein is also the President Props For Today and Props From Yesterday. These companies have not filed petitions for relief under chapter 11.

Interieurs is entirely dependent upon Props For Today and Props From Yesterday for the income to pay its rental obligations to Vornado.

In addition to the fact that the amount of rent is generally too high as a percentage of overhead, recent industry strikes, the expiration of New York State’s tax incentives for the film and television industries, and the deepening recession have hurt the businesses and revenue streams of Props For Today and Props From Yesterday. These circumstances, in turn, have impaired Interieurs’ ability to pay its rent under the Lease.

Interieurs is currently in negotiations with Vornado with respect to a restructuring of its lease obligations and is hopeful that a satisfactory agreement will be reached. If Interieurs’ negotiations are ultimately successful, it is likely that its bankruptcy case will be dismissed.

In the meantime Props For Today and Props From Yesterday continue to business as usual.