Symphony dissolves in the court of bankruptcy
The 85 symphony musicians Wednesday filed for Chapter 7 bankruptcy, liquidation to its heritage. The group has more than $ 1 million, according to estimates, an amount “much more active,” said its website.
The symphony has sought to reorganize in January for the bankruptcy filing of Chapter 11 protection under musicians rejected a pay cut.
In February, a bankruptcy judge allows the Symphony for the resolution of his work with his musicians.
“It is very unfortunate for the community,” said President captain Shawn Raintree symphony, but the past of this chapter is closed in the past, a new can begin. ”
The Symphony Orchestra Colorado Springs is one of a handful of orchestras federal suffering financially.
The Symphony Orchestra of San Antonio earlier this month could not pay its musicians, who had already agreed to pay a cut of 20 per cent.
Last month, the Savannah Symphony Orchestra canceled the rest season after they could not pay a debt of 1.2 million.
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