Canada's Cirque du Soleil Entertainment Group filed for bankruptcy protection on Monday as the COVID-19 pandemic forced the famed circus operator to cancel shows and lay off its artistes.
FILE PHOTO: Artists perform during Cirque du Soleil's Crystal show in Riga, Latvia January 15, 2020. REUTERS/Ints Kalnins
“With zero revenue since the forced closure of all of our shows due to COVID-19, the management had to act decisively to protect the company’s future,” Chief Executive Officer Daniel Lamarre said. But creditors are unlikely to agree to the deal, which could result in existing debt holders getting about 45% equity in the restructured company, a source familiar with the discussions told Reuters.
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