Cirque du Soleil declares bankruptcy

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.

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  • 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.

  • 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.

    • 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.

    • 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.

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