Since March, Cirque du Soleil has had to cancel all of its permanent shows, including six in Las Vegas and world tours. 95 percent of employees had to stay at home and the company’s debt climbed to $ 900 million (21.4 billion crowns).
–
Therefore, on Monday, Cirque du Soleil applied for judicial protection from creditors. He agreed with the owners on a financial injection of $ 100 million (2.3 billion crowns) and Investissement Québec approved a loan of $ 200 million (4.6 billion) to increase its value before bankruptcy and survive the period until it can start the show again.
–
“With zero revenue from the forced closure of all our shows due to covid-19, management had to act decisively to protect the company’s future,” said CEO Daniel Lamarre.
–
“We know, because the proposal is already on the table, that Cirque du Soleil is saved. I am sure that at the end of the whole process, which should culminate in mid-September, we will have a new owner, “he added. According to him, five to six candidates applied for Cirque du Soleil.
–
The circus wants to take the employee back again
As part of the above-mentioned financial injection, two funds totaling $ 20 million (477 million crowns) were also set up to support employees and artists who have not been able to work since March.
–
The agreement with the owners also assumes that a substantial portion of the laid off employees will be readmitted when all shows start up again. Among the first should be permanent shows in Las Vegas and Orlando. However, when this will happen depends on the situation regarding the pandemic.
–
Cirque du Soleil was founded in 1984 by former street artists Guy Liberté and Daniel Gauthier. It is a symbol of the new circus, which does not use animals in its performances, but only human performers. The more it emphasizes the story.
–
Cirque du Soleil has performed in Prague several times. In 2017, it was a performance of Varekai.
Over the years, Cirque du Soleil has become an entertainment giant, consisting of several ensembles of permanent residents and other travelers around the world. In Las Vegas alone, there are six permanent performances that are played twice a day five days a week. Among them are the legendary show Kà or O.
–
Due to prestige and above-average conditions, the best performers and other circus performers from all over the world work in the circus. Among them is the Czech acrobat Jakub Plšek.
–
In the 12 months to last September, Cirque du Soleil had revenues of $ 950 million (22.6 billion crowns), and net profit for the period is estimated at 155 million (3.6 billion crowns).
—
