Cirque entered a “stalking horse” bid from its largest backers, including a mix of multinational private equity firms from the United States, China and Canada for $420 million. Cirque du Soleil … Cirque du Soleil has announced is filing for bankruptcy protection, as the world's most famous circus troupe seeks to restructure its debt to survive the coronavirus pandemic. While nothing can beat the thrill of seeing the gravity-defying, awe-inspiring skill of the live shows, Cirque du Soleil is trying to stay connected with fans during the coronavirus outbreak. The group, best known for its flamboyant touring circuses, said the coronavirus pandemic had forced it to cancel shows and lay off its artists. Now all other Cirque shows are pausing because of the coronavirus. In March, the company laid off more than 4,000 workers, or 95 percent of its workforce. Aside from Las Vegas, Cirque du Soleil shows in Austin, Texas, Chicago, Houston, New Orleans, Salt Lake City, Montreal, Boston, Tel Aviv, Meloneras, Spain, Munich, Costa Mesa, Denver and in Australian cities. The empty headquarters of Cirque du Soleil in … Luzia by Cirque du Soleil. Cirque’s CCAA application will be heard on Tuesday by the Superior Court of Quebec. To see all content on The Sun, please use the Site Map. The coronavirus has pulverized the famed circus, forcing it to shut down dozens of shows and grounding its small army of circus artists. View our online Press Pack. Coronavirus: Cirque du Soleil axes 3,480 jobs - but plans to rehire most. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. The deal will also see existing secured creditors take a 45% stake in the restructured company. It said it was filing for protection from creditors in Canada while it develops a plan to restart its business. Cirque Du Soleil Billionaire Guy Laliberté In Custody For Growing Cannabis — November 2019 Full coverage and live updates on the Coronavirus Send me a secure tip . MONTREAL -- Cirque du Soleil has announced company-wide layoffs as COVID-19 continues to hurt the economy. Cirque du Soleil, creator of many of the most popular shows in Las Vegas, said Saturday (March 14) that it is temporarily suspending its productions in the … By Steve Jones Friday, 6th March 2020, 2:56 pm To inquire about a licence to reproduce material, visit our Syndication site. Coronavirus: Cirque du Soleil cuts 3,500 jobs to stave off bankruptcy. The company said it was taking action "in response to immense disruption and forced show closures as a result of the COVID-19 pandemic". World Coronavirus Montreal Cirque du Soleil announced it will lay off nearly all of its employees, following the closure of all 44 of its shows worldwide due to the coronavirus. Cirque du Soleil Entertainment Group have filed for bankruptcy after the coronavirus pandemic forced it to close shows around the world. Coronavirus: Cirque du Soleil axes 3,480 jobs - but plans to rehire most, Cirque du Soleil is famous for its shows around the world, Las Vegas shows including The Beatles LOVE have been cancelled. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. "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.". The Las Vegas shows that have been cancelled during the pandemic included "O" at the Bellagio, and "The Beatles LOVE" at the Mirage, and "Michael Jackson ONE" at Mandalay Bay. Cirque Du Soleil’s 'Zumanity' Permanently Closing Due to COVID-19 Cailey Rizzo 11/17/2020 US coronavirus news: Increase in coronavirus admissions prompts a … CANADIAN entertainment firm Cirque du Soleil filed for bankruptcy on Monday and cut 3,500 jobs after coronavirus pandemic shuts down its shows. The Cirque du Soleil Crystal show at P&J Live due to take place next week has been scrapped due to the coronavirus crisis. Our priority has always been and remains the health and safety of our artists, partners and various employees, but also of our public. Entertainment company Cirque du Soleil is axing more than 3,000 jobs in a restructuring after the coronavirus pandemic wiped out its revenues. There will be a $20m fund "to provide additional relief to impacted employees and independent contractors". Coronavirus: Cirque du Soleil lays off 95 per cent of its staff "As we speak today, there is no revenue coming in for the company and I don't know … Driving the news: The live events giant yesterday filed for bankruptcy protection in Canada and confirmed furloughs of around 3,500 employees. Daniel Lamarre, chief executive of Cirque du Soleil Entertainment Group, said: "For the past 36 years, Cirque du Soleil has been a highly successful and profitable organisation. That offer is intended to be a starting point in an auction to draw other bidders. The Montreal-based circus arts show company temporarily suspended its productions around the world in March because of the new coronavirus outbreak. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Montreal-based Cirque temporarily suspended its productions in March because of the outbreak. Taking into consideration the World Health Organization (WHO) and the Centers for Disease Control … Cirque Du Soleil explained in a response to a tweet that the decision to only cancel the 5pm show was so that performers could get home before the travel bans were further implemented. The Montreal-based company filed bankruptcy Companies… The venue’s website listing for the event was changed at 5pm today to show it was cancelled. The novel coronavirus was still considered a … For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Comments are subject to our community guidelines, which can be viewed, Cirque du Soleil filed for bankruptcy and cuts 3,500 jobs, Cirque du Soleil operated in major US cities such as Las Vegas, Houston, New Orleans and Dallas, The company is best known for its flamboyant touring circuses, Independent Press Standards Organisation (IPSO). Huge 394ft megayacht has epic beach club with its own gym, pool and helipad, Woman 'arrested on bench' as cops told to fine ruler-breakers after ONE warning, From loo romps to 'hot or not' games, airhostesses' sauciest confessions, Key workers to receive free Covid tests in drive to find hidden carriers, I've no shame after mum's boobs popped out on live TV, says Chloe Madeley, ©News Group Newspapers Limited in England No. The coronavirus pandemic is the biggest threat to face Cirque du Soleil, which was created in the early 1980s as “The Stiltwalkers of Baie-Saint-Paul” in … The Canada-based company has outlined a restructuring plan in response … @JPFordRojas. Cirque du Soleil’s “R.U.N,” described as a graphic novel come to life, closed last month in Las Vegas. Cirque du Soleil; Click here to know more about Cirque du Soleil Entertainment Group’s response to COVID-19 pandemic This show is now closed. Business reporter However the Canada-based group - known for its shows in Las Vegas and around the world - said it aimed to rehire a "substantial majority" of these employees once lockdowns are lifted. The Montreal-based company filed bankruptcy Companies Creditors Arrangement Act (CCAA) and blamed it on “immense disruption and forced show closures as a result of the Covid-19 pandemic.”. Neither P&J Live nor Cirque du Soleil are making any statements regarding the decision. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. The entertainment group is … Cirque du Soleil shows in other locations in the US as well as Canada, Spain, Israel, Germany and Australia were also suspended. The slow-motion shutdown of Cirque du Soleil should have been an early warning of the disaster to come. Cirque du Soleil announced Monday it is filing for bankruptcy protection as the coronavirus pandemic continues to rattle the world.. CANADIAN entertainment firm Cirque du Soleil filed for bankruptcy on Monday and cut 3,500 jobs after coronavirus pandemic shuts down its shows. All of Cirque du Soleil’s many shows across the globe are on hold right now due to the coronavirus pandemic. A statement from the president of … Covid-19. Hi, guys! Sheffield’s Fly DSA Arena has issued coronavirus information to those attending Cirque du Soleil performances at the venue this weekend. :: Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker. The CCAA is a Candaian Federal Act that allows large corporations to restructure their finances and avoid bankruptcy, while allowing creditors to receive some form of payment for amounts owed to them. News Jun 30, 2020 by Georgia Snow. For other inquiries, Contact Us. The company said its restart plan included "the intent to rehire a substantial majority of terminated employees, business conditions allowing, once and as mandatory shutdowns are lifted and operations can resume". The fate of Cirque du Soleil will be decided in a courtroom, not under the big top. What happened: The coronavirus pandemic decimated the company almost entirely reliant on revenue from live events. Today I bring you a new video in which I will talk to you about a sad topic that is occupying the entire world and that has recently affected Cirque du Soleil: Coronavirus. “With zero revenue since the forced closure of all our shows due to Covid-19, the management had to act decisively,” said boss Daniel Lamarre. Cirque du Soleil is to axe 3,500 jobs as part of cost cutting measures to avoid bankruptcy. We applaud Zumanity as the show has taken its final bow and will not be reopening. The Cirque du Soleil Crystal show at P&J Live due to take place next week has been scrapped due to the coronavirus crisis. Struggling acrobatics troupe Cirque du Soleil may be getting a lifeline from the Quebec government. It is now terminating 3,480 employees of the more than 4,000 who were furloughed at that time - the latter number representing 95% of its workforce. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. About Cirque du Soleil Entertainment Group. Discover our two new, exclusive must-see shows: Cirque du Soleil at Sea EXENTRICKS and COSMOS, only on MSC Grandiosa. The company also received $300 million in fresh funding to “support a successful restart, provide relief for Cirque du Soleil’s affected employees and partners,” it said in the release. The Canadian entertainment group, famous for its touring circuses and musicals, is cutting 95% of its staff as part of efforts to stave off bankruptcy after it was forced to cancel all of its shows worldwide due to the coronavirus pandemic. The entertainment company temporarily suspended production of its shows, including six in Las Vegas since March. Under the restructuring, existing shareholders have agreed to invest $300m and take over Cirque's liabilities - including to ticketholders affected by cancellations of the shows - while a Quebec government body will provide $200m in debt financing. Watch video KURIOS – Cabinet of Curiosities Music Video. Cirque du Soleil Entertainment Group is a world leader in live entertainment. From the very beginning of the outbreak of the coronavirus, Cirque du Soleil Entertainment Group took rigorous measures to protect its work teams and the public. The Canada-based company has outlined a restructuring plan in response to the "immense disruption" caused by the pandemic. It added that given that its resident shows at Las Vegas and Orlando were expected to resume before the rest, artists in its residents shows division were not affected.