Cirque du Soleil has announced bankruptcy due to pandemic COVID-19

Cirque du Soleil on June 29 declared bankruptcy and the dismissal of approximately 3480 of your employees, information about this appeared on the official website of the company.

At the beginning of the pandemic coronavirus circus has temporarily suspended production of his show, including six in Las Vegas, noted in the message. The company also had to cancel 10 concerts around the world.

“Over the last 36 years Cirque du Soleil has been a very successful and profitable organization. But zero income after the forced closure of all our shows for COVID-19 leaders had to act decisively to protect the future of the company,” said Daniel lamarre, President and CEO of Cirque du Soleil Entertainment Group.

According to CNN, the Cirque du Soleil almost $1 billion of debt. The company intends to restructure its debt with the government of Canada and private investment companies.

Circus has announced a tender for participation in the competition by their sponsors, including private equity firms from the USA, China and Canada, for $420 million it is Expected that this proposal will be the starting point in the auction to attract other participants.

Cirque du Soleil (“circus of the sun”) – a canadian company working in the field of entertainment. Was founded in 1984 and is based in Montreal. The circus known principled refusal to participate in animal performances and their synthetic performances in which circus skill connected with music, quirky design and choreography. The company employs more than 4 thousand people in different companies.

Flash coronavirus infection COVID-19 began in December 2019 in the Chinese city of Wuhan. March 11, 2020, the world health organization declared the spread of the coronavirus pandemic.

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