Cirque du Soleil have declared bankruptcy due to coronavirus and firing 3500 employees
the Canadian entertainment firm Cirque du Soleil (Cirque du Soleil) plans to cut 3,500 jobs to avoid bankruptcy. The group, known for its bright touring circuses, said that the pandemic coronavirus forced her to cancel all scheduled shows.
Now the company is trying to restructure, laying off about 95% of its employees.
"With a zero income after the forced closure of all our shows for Covid-19, the leaders had to act decisively," - said the head of Cirque, Daniel lamarre.
Along with circuses, du Soleil shows worldwide known musicals.
the Firm stated that it had entered into with creditors an agreement by which its current shareholders will assume the obligations of circus and invest in a business $ 300 million.
About 200 million US dollars will be provided in the form of a budget loan in the province of Quebec, where the office of the company.
Shareholders of the circus will allocate $ 20 million for supplemental assistance to affected employees and contractors.
Statement of the circus on the protection from bankruptcy will be considered on Tuesday in the Supreme court of Quebec.
Cirque du Soleil was founded by guy Laliberte and Gilles STE-Croix in 1984 in Canada. The circus known non-participation of animals in performances and their show in which circus skills combined with the choreography.