Cirque du Soleil declares bankruptcy

Cirque du Soleil declares bankruptcy

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norman lebrecht

June 29, 2020

Covid has killed off one of the biggest employers of live performers, with 3,500 jobs to go right away.

The company, based in Montreal, blamed ‘forced show closures as a result of Covid-19’.

More here.

Comments

  • MacroV says:
    June 30, 2020 at 12:17 am

    What can they do, with virtually all their income halted?

    Reply
  • Jay says:
    June 30, 2020 at 1:54 am

    What sad news….remember the first marvelous shows
    before it became Los Vegas slick.

    Reply
  • michelle says:
    June 30, 2020 at 2:27 am

    not sure if this is a bad thing…

    Reply
  • David J Hyslop says:
    June 30, 2020 at 3:02 am

    Sad, sad, sad. Have seen many of their shows and have

    enjoyed them. They employ a lot of people .

    Reply
  • Steve says:
    June 30, 2020 at 4:19 am

    Although structured as a bankruptcy, in reality the company will be going through a reorganization. The company will be purchased the recapitalized and hopefully many of the artists will be rehired. So, not nearly so dire a result as being “killed off”, Norman.

    Reply
  • Mr. Knowitall says:
    June 30, 2020 at 8:20 am

    Perhaps not quite “killed off.” The article says that it’s the type of bankruptcy that allows for financial restructuring. That leaves open the possibility that if conditions improve, the company and at least some of those jobs could return.

    Reply
    • Nik says:
      June 30, 2020 at 2:39 pm

      You are right, and I suspect that many arts organisations will go through something similar. If life support is not viable, death and rebirth could be an option.

      Reply
  • PHF says:
    June 30, 2020 at 1:00 pm

    Their debt goes way back covid. If they sleep better by blaming covid, good for them.

    Reply
    • Stephen Owades says:
      June 30, 2020 at 6:45 pm

      Of course the debt goes back farther than the start of the COVID pandemic. Many businesses have outstanding debt (and Cirque du Soleil is a business, not a non-profit), for investment in the future. But when all their sources of income stop suddenly, the debt which had been manageable and prudent becomes (temporarily) unsupportable.

      Reply

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