Canadian circus company Cirque du Soleil has filed for bankruptcy protection and is awaiting for the restructuring.
$ 300 million owners will invest in restarting the company. $ 15 million of this money will be allocated to support the employees. However, the circus will have to lay off 3,480 people - this is about 90% of the staff. But management promises that most will be taken back after the show resumes.
- For the past 36 years, Cirque du Soleil has been a very successful and profitable organization. However, with zero income after the forced closure of all our shows due to COVID-19, management had to act decisively to protect the future of the company. We have prepared an agreement that will provide the company the opportunity to overcome the crisis stronger and more updated. “We enlisted the support of sponsors, which includes additional funds to help our affected employees, contractors and important partners, all of which are important for the return of the Circus,” said Daniel Lamarre, President and CEO of Cirque du Soleil Entertainment Group.
The company started with a street artist show. The circus has existed since 1984 and puts on shows in 60 countries.
It is worth noting that while Russian circuses are not going to abandon wild animals, the Canadian Cirque du Soleil - one of the most famous and popular circuses in the world - does not resort to the exploitation of animals.