New York City Opera to file for bankruptcy, wind down operations
NEW YORK, N.Y. – New York City Opera says the company will file for bankruptcy protection and wind down operations after failing to raise enough money to stage the rest of its season.
The company announced Sept. 12 that it needed $7 million by the end of September.
Spokeswoman Risa Heller said Tuesday that City Opera “did not achieve the goal of its emergency appeal. Today, the board and management will begin the necessary financial and operational steps to wind down the company, including initiating the chapter 11 process.”
As of last Thursday, the company said just $1.5 million had been pledged. It hoped to raise $1 million on Kickstarter.com but a total of $301,019 from 2,108 donors was pledged on the website.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community? Create a free account to comment on stories, ask questions, and join meaningful discussions on our new site.
Leave a Reply
You must be logged in to post a comment.