Broadway Extends Shutdown Through Early January; Cirque du Soleil Files for Bankruptcy

Broadway Extends Shutdown Through Early January; Cirque du Soleil Files for Bankruptcy

The entertainment industry continues to get hit hard during the coronavirus crisis, with announcements this week that Broadway shows in New York have been shuttered now through 2021 — and Cirque du Soleil has filed for bankruptcy.

On Monday, the Broadway League Tweeted the following:

“Broadway performances in New York City will be suspended through the remainder of 2020 due to COVID-19. Tickets for early 2021 will go on sale in the coming weeks. #BroadwayWillBeBack”

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“We’ll be back, and we have so many more stories to tell,” said Charlotte St. Martin, President of the League. 

In Rhode Island, the Providence Performing Arts Center announced in May that it will not be reopening until 2021.

Cirque du Soleil’s Bankruptcy

Cirque du Soleil, the producer of a number of Las Vegas acrobatic shows, has filed for bankruptcy.

“In an announcement Monday, the Montreal-based company blamed its bankruptcy on the ‘immense disruption and forced show closures as a result of the Covid-19 pandemic’ and is aiming to restructure its debt with assistance from the Canadian government and private equity firms,” reported CNN Business.

The filing comes three months after it temporarily suspended production of its shows, including six in Las Vegas. It also has about 10 shows on tour across the world, including "O," "Michael Jackson One," and "The Beatles LOVE."

Cirque entered a "stalking horse" bid from its largest backers, including a mix of multinational private equity firms from the United States, China and Canada for $420 million. That offer is intended to be a starting point in an auction to draw other bidders.