Cirque du Soleil files for bankruptcy and terminates 3480 employees

Jun 29, 2020 in "Cirque du Soleil"

Cirque du Soleil has today announced that it has filed for bankruptcy and will terminate 3480 employees who were previously furloughed.

The company was forced to shutdown all of its productions due to COVID-19, and it is not yet clear on what the future is of those shows, including the new show at Disney Springs - Drawn to Life.

Cirque received $300 million in new funding as part of a plan to restart.

“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. “The Purchase Agreement and SISP provide a path for Cirque to emerge from CCAA protection as a stronger Company. The robust commitment from the Sponsors – which includes additional funds to support our impacted employees, contractors and critical partners, all of whom are important to Cirque’s return – reflects our mutual belief in the power and long-term potential of our brand. 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.”

The company has 44 shows around the world, and has been a resident of Disney Springs since 1999. Cirque and Disney began selling tickets for Drawn to Life in August last year for preview shows beginning March 20 2020. The show was then planned to officially open April 17 2020 with tickets costing $62 up to $152 depending on seating.

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Article Posted: Jun 29, 2020 / 3:49pm ET
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DisneyFan325 minutes ago

What is next month about Easter guys, is the cases will keep going down?

helenabear8 minutes ago

As is yours. Really no point in arguing

helenabear8 minutes ago

Yep. Or they'll watch the trials which is where they got their data to begin with ;)

Crunchie99 minutes ago

speculative at best

DisneyDebRob9 minutes ago

???

Sirwalterraleigh11 minutes ago

Because the “only worry about old people” was rejected about a year ago... “And still...she persisted”

DisneyFan3213 minutes ago

Maybe September or October will go fully back to normal? I expect summer may lose masks and social distancing or something. @GoofGoof

Sirwalterraleigh14 minutes ago

Stubborn facts. Inconvenient truth. There are some who believe then will be forgotten for promoting hoax theories or misdirection. They won’t be. I had Pfizer...nuttin... But to be fair...I think it’s highly likely we contracted it in January 2020 on a trip to Orlando...so i don’t think I fall into the biological “red zone” of this. Lucky me...I suppose?

GoofGoof14 minutes ago

I hope some form of normal. Maybe not a full return, but this Summer sure looks like it will be better than last Summer.:cool:

GoofGoof16 minutes ago

Just following CDC guidelines. They were very careful to word it that way to only include people vaccinated and that only includes about 3 months. What they want to avoid is someone infected last April saying I’m immune too so I should be exempt. Many employers adopted the same rules as the state as did most school districts. Kids were not allowed back in school without quarantining and it was enforced by the schools. Same with work. I know a lot of people here in PA who cancelled trips this past summer and in the Fall/Winter because their work required a quarantine. Not worth losing your job over just to prove a point.

DisneyFan3216 minutes ago

^ So you mean by summer things may go back to normal if people will getting vaccine faster soon? @GoofGoof

sullivan.kscott16 minutes ago

There will be a growing number in your unfortunate shoes as we approach Easter.

havoc31516 minutes ago

I suspect they will. They will watch the people vaccinated in January.... in April/May, if they appear to still be effectively vaccinates, the window will be lengthened.

helenabear19 minutes ago

Grumble. Still shut out due to stupid rules. Gagh. CDC really needs to update this once we have proof 90 days is too short