News | Entertainment
6 Jul 2025 5:34
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Entertainment

    Cirque du Soleil has filed for bankruptcy

    The Montreal-based live entertainment company - which has become an icon in production shows in Las Vegas - has filed for protection from creditors under the Companies Creditors Arrangement Act (CCCA), and if the Superior Court of Quebec grants the order when the case goes to court on Tuesday (30.06.20), the company will seek immediate provisional recognition in the United States in the US Bankruptcy Court


    The CCCA order gives the company the ability to restructure and reopen in the future, after the organisation’s income was slashed due to the ongoing coronavirus pandemic.

    Daniel Lamarre, president and CEO of Cirque du Soleil Entertainment Group, said in a statement: “For the past 36 years, Cirque du Soleil has been a highly successful and profitable organisation. However, with zero revenues since the forced closure of all of our shows due to COVID-19, management had to act decisively to protect the company’s future.

    “I look forward to rebuilding our operations and coming together to once again create the magical spectacle that is Cirque du Soleil for our millions of fans worldwide.”

    Prior to the pandemic, Cirque du Soleil was producing six shows on the famous Las Vegas Strip, but they were all forced to cancel performances in mid-March to stop the spread of the virus.

    Originally, the company furloughed its staff members, but due to lack of income, they have now announced that approximately 3,480 employees have had their contracts terminated.

    According to the company’s statement, the termination “allows employees to maximise and accelerate the financial compensation that they can obtain by immediately receiving payment on account of all accrued vacation time”.

    However, artists and staff of the Resident Shows Division, including those in Las Vegas, are not affected by this measure as the Vegas shows are expected to resume before the rest of the company’s productions and events.

    In connection with the filing, Cirque du Soleil has entered into a “stalking horse” purchase agreement with its shareholders and debt providers which would provide $300 million into the restructured business to support a successful restart, provide relief for employees and partners and assume liabilities.

    Lamarre added: “The Purchase Agreement … provide(s) a path for Cirque to emerge from CCAA protection as a stronger company. The robust commitment from the sponsors - which includes additional funds to support our impacted employees, contractors and critical partners, all of whom are important to Cirque’s return - reflects our mutual belief in the power and long-term potential of our brand.”

    © 2025 Bang Showbiz, NZCity

     Other Entertainment News
     05 Jul: Jessie J is feeling "positive and grateful" following her breast cancer surgery, but she is "missing being an active mum" and has stopped taking pain medication
     05 Jul: Olivia Munn has alleged a director tried to "ruin her chances" of working after a disagreement on set
     05 Jul: Dwayne 'The Rock' Johnson has thanked Jelly Roll for helping him through a "very hard" time
     05 Jul: Annabelle Dexter-Jones and Daniel Humm are married
     05 Jul: Martin Short was stunned when Meryl Streep admitted she was nervous on her first day filming Only Murders in the Building
     05 Jul: Quinta Brunson is "looking forward" to her future away from Abbott Elementary
     05 Jul: Nelly and Ashanti take very different approaches to parenting
     Top Stories

    RUGBY RUGBY
    The basketball might of the United States isn't fazing the Junior Tall Blacks ahead of their historic Under-19 World Cup semifinal, overnight in Switzerland More...


    BUSINESS BUSINESS
    The Toyota's RAV4's held it's top spot as the favourite passenger car - in a standout month for vehicle sales More...



     Today's News

    Accident and Emergency:
    A homicide investigation is now being carried out after a baby found with critical injuries at a Foxton Beach house died in hospital 4:46

    Basketball:
    The basketball might of the United States isn't fazing the Junior Tall Blacks ahead of their historic Under-19 World Cup semifinal, overnight in Switzerland 21:57

    Entertainment:
    Jessie J is feeling "positive and grateful" following her breast cancer surgery, but she is "missing being an active mum" and has stopped taking pain medication 21:36

    Rugby:
    An agonising three-point defeat for the Maori All Blacks ... but a historic win for Scotland ... on Sky Sport 21:17

    Entertainment:
    Olivia Munn has alleged a director tried to "ruin her chances" of working after a disagreement on set 21:06

    Entertainment:
    Dwayne 'The Rock' Johnson has thanked Jelly Roll for helping him through a "very hard" time 20:36

    Entertainment:
    Annabelle Dexter-Jones and Daniel Humm are married 20:06

    Entertainment:
    Martin Short was stunned when Meryl Streep admitted she was nervous on her first day filming Only Murders in the Building 19:36

    Entertainment:
    Quinta Brunson is "looking forward" to her future away from Abbott Elementary 19:06

    Environment:
    Torrential rain has unleashed deadly flash floods along the Guadalupe River in south-central Texas 18:37


     News Search






    Power Search


    © 2025 New Zealand City Ltd