"Montreal-based live entertainment company Cirque du Soleil announced today it has filed for protection from creditors under the Companies Creditors Arrangement Act (CCCA) in order to restructure, and its application under the CCCA will be heard Tuesday by the Superior Court of Quebec. If the court grants the order, the company will seek immediate provisional recognition in the United States under Chapter 15 in the U.S. Bankruptcy Court.
“For the past 36 years, Cirque du Soleil has been a highly successful and profitable organization. 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,” said Daniel Lamarre, president and CEO of Cirque du Soleil Entertainment Group. “I look forward to rebuilding our operations and coming together to once again create the magical spectacle that is Cirque du Soleil for our millions of fans worldwide.”
Cirque du Soleil is the biggest name in production shows in Las Vegas. The company was producing six shows on the Strip when casinos and entertainment were shuttered in mid-March to prevent the spread of COVID-19: “Mystére” at Treasure Island, “O” a Bellagio, “Zumanity” at New York-New York, “KÁ” at MGM Grand, “The Beatles LOVE” at the Mirage and “Michael Jackson ONE” at Mandalay Bay. Cirque also acquired the long-running Blue Man Group show at Luxor in 2017."
https://lasvegassun.com/news/2020/jun/29/cirque-du-soleil-files-bankruptcy/
“For the past 36 years, Cirque du Soleil has been a highly successful and profitable organization. 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,” said Daniel Lamarre, president and CEO of Cirque du Soleil Entertainment Group. “I look forward to rebuilding our operations and coming together to once again create the magical spectacle that is Cirque du Soleil for our millions of fans worldwide.”
Cirque du Soleil is the biggest name in production shows in Las Vegas. The company was producing six shows on the Strip when casinos and entertainment were shuttered in mid-March to prevent the spread of COVID-19: “Mystére” at Treasure Island, “O” a Bellagio, “Zumanity” at New York-New York, “KÁ” at MGM Grand, “The Beatles LOVE” at the Mirage and “Michael Jackson ONE” at Mandalay Bay. Cirque also acquired the long-running Blue Man Group show at Luxor in 2017."
https://lasvegassun.com/news/2020/jun/29/cirque-du-soleil-files-bankruptcy/