When the pandemic hit, it had 44 shows being staged around the world, including six different ones in Las Vegas. CEO and … Cirque du Soleil Entertainment Group had previously reached an agreement with its creditors on the sale of the company, which was among the hardest-hit brands in the COVID-19 pandemic. Its headquarters will remain in Montreal. 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. Biden's economic plan is bold. This gym is actually opening studios during the pandemic, Mother struggles to keep the lights on this Christmas, Watch: Airbnb founder stunned on live TV by stock price, Cyberpunk 2077 is here, with Keanu Reeves and glitches, These Georgia voters are mired in misinformation. Cirque du Soleil has filed for bankruptcy protection just three months after temporarily canceling dozens of its flashy acrobatic shows worldwide because of … "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.". cirque du soleil and hangzhou xintiandi group announce reopening dates for 绮幻之境 - the land of fantasy Hangzhou, Tuesday, May 26, 2020 Cirque du Soleil Entertainment Group Announces $50 Million in Funding from Existing Investors TPG, CDPQ, and Fosun Nov 24 (Reuters) - Canada's Cirque du Soleil Entertainment Group said on Tuesday it had emerged from bankruptcy, after the COVID-19 pandemic forced the famed circus operator to … Photo credit: Steven Blois. MONTREAL -- For the second year in a row, Cirque du Soleil is cancelling the show planned to take place in Montreal's Old Port. The cast performs Strawberry Fields during “The Beatles LOVE by Cirque du Soleil” show at The Mirage Hotel & Casino on July 14, 2016 in Las … Cirque du Soleil Casting operations are temporarily suspended as part of necessary measures during the COVID-19 outbreak. With the sale of Cirque du Soleil successfully concluded, president and CEO Daniel Lamarre believes shows will gradually begin reopening in … Updated 1901 GMT (0301 HKT) June 29, 2020. Cirque du Soleil perfomer and Akwesasne resident Feryn King. The Cirque du Soleil has successfully finished refinancing with Toronto-based investors and plans to relaunch, the company announced Monday. Cirque du Soleil's 50th production at Disney Springs now has a name. MONTREAL — Cirque du Soleil Entertainment Group says it has completed the sale company to a group of its creditors led by Catalyst Capital Group The company announced the closing of the transaction with its secured lenders and its emergence from court protection from creditors today. Plunge into O, the original water show from Cirque du Soleil at the Bellagio. Cirque du Soleil and the live entertainment industry writ large have faced severe consequences from the Covid-19 crisis, with the virus outbreak leading to the cancellation of shows. Canada’s Cirque du Soliel Entertainment Group has emerged restructured from a bankruptcy procedure that protected it from creditors, and put it in a position to relaunch its iconic shows. In an announcement Monday, the Montreal-based company blamed its situation on the "immense disruption and forced show closures as a result of the Covid-19 pandemic" and is aiming to restructure its debt with assistance from the Canadian government and, The filing comes three months after it temporarily suspended production of its shows, including six in Las Vegas. Canadian entertainment firm Cirque du Soleil is to cut 3,500 jobs after striking a deal to avoid bankruptcy. Now, some may not vote, See this SpaceX rocket's fiery crash landing, Goldbelly is shipping food from iconic restaurants nationwide, Bob Dylan's trademark agreement gives Universal entire 600+ song catalog, The Boeing 737 MAX is back in the air after fatal crashes, Small space? All rights reserved. To help stem the financial loss, Cirque has laid off roughly 3,500 employees. Cirque du Soleil Entertainment Group CEO Daniel Lamarre on emerging from bankruptcy protection, his outlook for live entertainment and how the news of … WILLIAMSTOWN, Ontario – Char Lan District High School students in Williamstown were treated to a performance on Wednesday, October 14 th , by Indigenous hoop dancer Feryn King, who had previously toured with Cirque de Soleil. All rights reserved, CIRQUE DU SOLEIL ENTERTAINMENT GROUP CONFIRMS CLOSING OF SALE TRANSACTION AND EMERGENCE FROM CREDITOR PROTECTION, ZUMANITY™ BY CIRQUE DU SOLEIL® HAS TAKEN ITS FINAL BOW AT NEW YORK-NEW YORK HOTEL & CASINO, FALL INTO FUN! Get your tickets now! Rated one of the best things to do in Las Vegas. All rights reserved. Cirque du Soleil, the producer of a number of Las Vegas acrobatic shows, has filed for bankruptcy protection. About a year ago, Cirque du Soleil’s aquatic landmark “O” shifted to a seven-night schedule, a first for the dream-like epic that originally opened with Bellagio in October of 1998. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The show "Sous … Try these holiday decorations, How holiday spirit is surging despite the Covid-19 pandemic, This is one of the biggest hurdles to a Brexit deal. It also has about 10 shows on tour across the world, including "O," "Michael Jackson One," and "The Beatles LOVE.". That's becoming increasingly untenable as its productions remain suspended. Cirque du Soleil has made plenty of news away from the stage in 2020, the numbing reality of shutting down all of its shows as COVID took hold in … CIRQUE DU SOLEIL LAUNCHES ALL-NEW CIRQUECONNECT DIGITAL EXPERIENCE WITH EVEN MORE ORIGINAL CONTENT, CIRQUE DU SOLEIL ENTERTAINMENT GROUP ENTERS INTO AN AGREEMENT WITH ITS SECURED LENDERS, CIRQUE DU SOLEIL ENTERTAINMENT GROUP ANNOUNCES COMPREHENSIVE PLAN TO RESTART BUSINESS, CIRQUE DU SOLEIL AND HANGZHOU XINTIANDI GROUP ANNOUNCE REOPENING DATES FOR 绮幻之境 - THE LAND OF FANTASY, Cirque du Soleil Entertainment Group Announces $50 Million in Funding from Existing Investors TPG, CDPQ, and Fosun, Cirque du Soleil to take part in STRONGER TOGETHER, TOUS ENSEMBLE broadcast this Sunday. All times are ET. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. "For the past 36 years, Cirque du Soleil has been a highly successful and profitable organization," said Daniel Lamarre, CEO of Cirque du Soleil Entertainment Group in a release. Cirque du Soleil is a prime example, arguably, the best circus company in the world. Disclaimer. Tickets on sale now! Canadian entertainment firm Cirque du Soleil is to cut 3,500 jobs after striking a deal to avoid bankruptcy. Factset: FactSet Research Systems Inc.2018. Cirque du Soleil, the greatest circus show on earth, is home to the world's greatest performers and acrobats. Cirque was forced to cancel its shows earlier this […] Former MGM CEO Jim Murren will serve as co-chairman of the board. The company announced the closing of … Behind the scenes, it is also home to amazing talents like Filipino chef Ariel Layug who has been with the show for seven years now. Cirque du Soleil announces new dates for its new Big Top show production, Under the Same Sky. Cirque du Soleil is an institution … While the total majority of shows and artistic projects are dark, we send our sympathy to all performing artists in the industry across the world. The closing means that Cirque du Soleil… That offer is intended to be a starting point in an auction to draw other bidders. Cirque du Soleil Entertainment Group says it has completed the sale of the company to a group of its creditors led by Catalyst Capital Group. Dec 10, 2019 | 2:05pm ET VIDEO - Behind-the-scenes look at creating the new Cirque du Soleil show debuting Spring 2020 at Walt Disney World Is it possible? Cirque’s shows — wildly popular, but very expensive to stage — have become top draws to Las Vegas Strip resorts over the years. Tight budget? Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Court approves Cirque du Soleil secured lenders as benchmark bidder Cirque du Soleil proposal, which heads to court Friday, could weaken company's link to Quebec Cirque… Cirque is drowning in nearly $1 billion in debt, according to multiple reports. Located in the inner-city area of Saint-Michel, it was founded in Baie-Saint-Paul on 16 June 1984 by former street performers Guy Laliberté and Gilles Ste-Croix. The company has also received $300 million in fresh funding to "support a successful restart, provide relief for Cirque du Soleil's affected employees and partners, and assume certain of the company's outstanding liabilities," it said in the release. Most stock quote data provided by BATS. Cirque du Soleil (French: [sɪʁk dzy sɔ.lɛj], "Circus of the Sun" or "Sun Circus") is a Montreal-based entertainment company and the largest contemporary circus producer in the world. Cirque du Soleil Entertainment Group closes previously announced Purchase Agreement with its secured lenders and emerges from CCAA/Chapter 15 protection. Copyright © 2019 Cirque du Soleil. Cirque du Soleil Entertainment Group emerged from court protection with new owners, a focus on the world’s biggest cities, and a plan to open U.S. shows as early as next summer.. Cirque’s Las Vegas-based shows and a new production at Walt Disney Co.’s Florida resort are likely to resume first, according to Chief Executive Officer Daniel Lamarre, who kept his job after the restructuring. CIRQUE DU SOLEIL OFFERS FANS AN ESCAPE INTO ITS AWE-INSPIRING UNIVERSE DURING THE CORONAVIRUS CRISIS. About 120 artists, crew members and staff worked on "Zumanity," according to the Las Vegas Review Journal. 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