Cirque du Soleil performs Totem at Theresienwiese on February 13, 2020 in Munich, Germany
Photo: Hannes Magerstaedt / Getty Images
As long as people have scoffed at Cirque du Soleil’s particular mix of stunts, mime, and modern Canadian circus, those same people have lined up to watch their award-winning shows in over 300 cities over the past 36 years. Now, as the coronavirus quarantine remains a necessity in the summer, however, the theater company has sought bankruptcy protection in an attempt to prevent the organization’s permanent closure.
In accordance with the company’s restructuring plan under Canada’s Creditors Agreement Act, Cirque du Soleil has had to lay off 3,480 employees who had been laid off in March. The company has also entered into a “stalking horse” purchase agreement with current shareholders TPG, Fosun and Caisse de dépôt et place du Québec, as well as with Investissement Québec, which would hypothetically keep the organization afloat for the time being.
Despite the financial unknowns of the rest of 2020, Cirque du Soleil says they are committed to returning to the stage when health and safety allow. Proceedings will resume once the pandemic is under control, pending a reduction in government blockades and travel restrictions, and in accordance with the new corporate structure in place. Tickets for suspended and rescheduled performances are still valid, ”writes the organization on its website.
On Monday, the company tweeted: “For our phenomenal fans, the hope of once again seeing your smiling face in the audience keeps us active every day. We miss you and we can’t wait to be together again. Of its more than forty shows, only Cirque du Soleil Fantasy land, which reopened in China on June 3, has been able to resume.
