Big Apple Circus files for bankruptcy
After a “Save the Circus” fundraising drive failed to bring enough revenue, the Big Apple Circus has filed for bankruptcy protection.
The 38-year-old entertainment organization -- which canceled its 2016-17 season in July -- is now looking to sell its storage and training facilities while looking for new sources of financial support or a third party to purchase the organization outright, according to the Wall Street Journal.
Before the financial collapse of 2008, the Big Apple Circus brought in revenue of more than $18 million from a 350-plus show performance schedule while also operating community outreach programs for deaf, blind and autistic children. Those efforts are expected to continue, potentially under new nonprofit operators, according to Sunday’s filing.
The chapter 11 filing listed the organization has having assets worth roughly $3.8 million, while its debts are estimated at $8.3 million.
