Cirque du Soleil files for bankruptcy protection

[Enchanted]

According to the CBC Cirque du Soleil has filed for bankruptcy protection.

Source

 

[Sylvia]

Cirque du Soleil Creditors Set to Reject TPG Group’s Offer

Creditors of Cirque du Soleil Entertainment Group are set to turn down a proposal led by TPG that would leave them with a 45% stake in the company in exchange for wiping out most of its debt.

www.bloomberg.com

 

[Enchanted]

It says in the article they laid off 4,679 people. That’s a huge amount of people. I had no idea the company was that big.

Didn’t they have a skating show as well? I suppose it’s no more.

 

[Sylvia]

Didn’t they have a skating show as well? I suppose it’s no more.

Two skating show tours -- CRYSTAL (started in 2017) and AXEL (began last year).

GSD thread: https://www.fsuniverse.net/forum/threads/cirque-du-soleil-on-ice.101309/

 

[aftershocks]

This is so sad, and obviously just the tip of the iceberg across so many industries. Hopefully, something viable and salvageable can be worked out short-term and long-term that doesn't involve touring and arena-style spectatorship.