Cirque du Soleil files for bankruptcy three months after it suspended production of its shows, including six in Las Vegas
In an announcement Monday, the Montreal-based company blamed its bankruptcy on the"immense disruption and forced show closures as a result of the Covid-19 pandemic" and is aiming to restructure its debt with assistance from the Canadian government and private equity firms.The filing comes three months after it temporarily suspended production of its shows, including six in Las Vegas.
The company has also received $300 million in fresh funding to"support a successful restart, provide relief for Cirque du Soleil's affected employees and partners, and assume certain of the company's outstanding liabilities," it said in the release. Read MoreCirque is drowning in nearly $1 billion in debt, according to multiple reports. That's becoming increasingly untenable as its productions remain suspended.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cirque du Soleil, Las Vegas Strip mainstay, filing for bankruptcy protection amid coronavirusCirque du Soleil announced Monday it is filing for bankruptcy protection as the coronavirus pandemic continues to rattle the world.
Read more »
Cirque du Soleil, Las Vegas Strip mainstay, filing for bankruptcy protection amid coronavirusCirque du Soleil announced Monday it is filing for bankruptcy protection as the coronavirus pandemic continues to rattle the world.
Read more »
Chesapeake Energy, a pioneer in the U.S. shale revolution, files for bankruptcy protectionChesapeake Energy, the poster child of the U.S. shale revolution, filed for bankruptcy protection on Sunday.
Read more »
Shale pioneer Chesapeake Energy files for bankruptcyChesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.
Read more »
Fracking pioneer Chesapeake Energy files for bankruptcyChesapeake Energy Corp. said Sunday that it had filed for bankruptcy protection as an oil- and gas-price rout stoked by the coronavirus pandemic proved to be...
Read more »
Fracking pioneer Chesapeake Energy files for bankruptcyFrom 2010 to 2012, the company spent $30 billion more in drilling and leasing than it made from its operations.
Read more »