But… didn’t they go bankrupt??
Looks like they are also non-refundable
They filed a re-organizational bankruptcy that gives them protection from creditors and the ability to re-finance existing debt.
DD really wants to see this show on our December trip. Since I have little confidence that the trip is even going to happen, I will not be purchasing non refundable tickets until we are about to head for the airport.
In March I was on the verge of buying tickets to see Cirque in Canada when we were going to be there in a few weeks…glad I didn’t get that far!
Same place where I am. DW wants to see it in December. Another thing she noticed, there seems to be no social distancing with the seats
That’s crazy. We had hoped to see the show on our cancelled June trip. So glad I hadn’t bought tickets.
I really don’t understand bankruptcy…
Basically they are at the step right before bankruptcy. Close… but not bankrupt yet.
I think the American shows (particularly all the Vegas shows) still have the potential for money making. In normal times,those shows print money. Wdw is probably similar (but not as profitable). Creditors would still want money to be coming in, if for no other reason to make a better sale of the company or some of the assets.
I think it’s possible that the Canadian part of the company (the HQ definitely) goes away and all the American permanent location shows become their own company. However, I’ve read performers in the LV productions have considered themselves permanently laid off.
You may never see a touring version of Cirque again; but certainly not for the next few years.
In the USA, there are several types of business bankruptcy,
Chapter 7 is what most people think about, where a trustee takes over everything sells the assets and takes the proceeds to pay off creditors Business closes after this is done.
Chapter 11 is used by businesses to reorganization that renegotiates loan,s leases, etc, and restructure their debts so they can pay them off typically over a longer period of time or for a lessor amount… The business continues to operate in this case.
Cirque has filed in bankruptcy in Canada for the Canadian version of Chapter 11.
So if I understand correctly:
Chapter 7 is “I don’t have any money”
Chapter 11 is basically “I don’t wanna pay”
More like Chapter 7 is I give up. I’m broke, have nothing left and no hope of ever getting more in the future
Chapter 11 is I’m broke today but give me until next Friday when I get paid so I can you back
I read that and thought of Whimpy I will gladly pay you Tuesday for a hamburger today.
What is scary is I wonder how many people will get the reference. I am showing my age here.
Ha ha. I got the reference and it made me laugh.