Due to the ongoing COVID-19 pandemic, the world famous performance company, Cirque du Soleil, has filed bankruptcy yesterday.
In March, the company was forced to shut down productions all over the world, leaving 4,700 workers either furloughed or without a job.
“For the past 36 years, Cirque du Soleil has been a highly successful and profitable organization,” president and CEO of Cirque du Soleil Entertainment Group, Daniel Lamarre said in a statement. “However, with zero revenues since the forced closure of all of our shows due to COVID-19, management had to act decisively to protect the Company’s future.”
In the meantime, a group of existing investors will take over the company for $300 million as well as financially support the laid-off workers.