Cirque du Soleil requested protection from creditors in Canada on Monday (June 29) as it develops a plan to restart its business amid the pandemic.
The creator of many of the most popular shows in Las Vegas on Monday blamed the “immense disruption and forced closure of shows as a result of the COVID-19 pandemic.”
The Montreal-based circus arts performance company temporarily suspended its productions worldwide in March due to the new coronavirus outbreak.
Cirque du Soleil also announced the layoff of approximately 3,480 previously suspended employees in March.
In connection with the filing, Cirque du Soleil said it has signed a purchase agreement with its current shareholders TPG, Fosun and Caisse de depot et place du Quebec, as well as Investissement Quebec as a debt provider. The sponsors’ offer is said to include the intention to rehire a substantial majority of the laid-off employees, if business conditions allow, when their operations can resume.
The company added that since its Las Vegas and Orlando resident shows are expected to resume before the rest of the other shows, artists and staff from the resident shows division are not affected.
The Las Vegas shows that were canceled included “O” at the Bellagio, “KA” at the MGM Grand, “The Beatles LOVE” at the Mirage, “Mystere” at Treasure Island, “Zumanity” in New York-New York and “Michael Jackson ONE” at Mandalay Bay.
Cirque du Soleil performs in Austin, Texas, Chicago, Houston, New Orleans, Salt Lake City, Montreal, Boston, Tel Aviv, Meloneras, Spain, Munich, Costa Mesa, California, Denver and the Australian cities of Melbourne, Adelaide and Perth were also canceled.
