​Cirque Du Soleil Files For Bankruptcy Protection

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​Cirque Du Soleil Files For Bankruptcy Protection
​The Canada-based circus arts show says the filing is a "response to immense disruption and forced show closures" due to COVID-19.
SHOW TRANSCRIPT

Entertainment company Cirque du Soleil has filed for bankruptcy due to the coronavirus pandemic.

The Canada-based circus arts show announced in a press release it filed for creditor protection on Monday "in response to immense disruption and forced show closures as a result of the COVID-19 pandemic." It also said it had to lay off roughly 3,500 employees in order to help curb further financial loss.

Cirque du Soleil said it has entered a purchase agreement with some of its shareholders in an effort to restart its business down the line. It said it plans to rehire a good amount of its staff when "mandatory shutdowns are lifted and operations can resume," depending on "business conditions" at that time.

Since Cirque du Soleil's resident shows in Las Vegas and Orlando are expected to resume before its other shows, performers and staff members there are not among those laid off.