By Laura Kemp •
Published: 30 Jun 2020 • 10:16
Cirque du Soleil, one of the most international entertainment institutions in Canada and the province of Quebec, has asked the Provincial Superior Court to restructure the company, which was already facing financial difficulties before the Covid-19 outbreak.
Cirque du Soleil President and CEO Daniel Lamarre stated that “for the past 36 years, Cirque du Soleil has been a very successful and profitable organization”.
However, “with no revenue since the forced closure” of all its shows due to Covid-19, management “has been forced to act decisively and protect the future of the company”.
The company has a debt of about 900 million dollars but has announced that it intends to “rehire a substantial majority of the laid-off employees once economic conditions allow” for this.
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Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features.
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