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Old 06-29-2020, 12:07 PM   #1
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Default Cirque du Soleil files for Bankruptcy

Kind of sad but also expected as the Covid-19 Pandemic wiped out any revenue opportunities.


https://www.cbc.ca/news/canada/montr...ptcy-1.5631354


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Cirque du Soleil, the circus company that was once one of Quebec's most successful businesses, filed for bankruptcy protection on Monday.
But Quebec's major institutional investors have made a bid to secure the company's future and keep it based in Montreal.



The company's revenue flow was devastated by the pandemic, which forced it to halt dozens of productions around the world.


In a news release, the company said Quebec Superior Court will hear its application for bankruptcy protection tomorrow. If granted, the company said it will also seek bankruptcy protection in the United States.

There does seem to be some hope in terms of private investors, but I doubt anyone is going to dump money in willingly until we know what the new normal is going to be.


Could the CFL be next?
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Old 06-29-2020, 12:15 PM   #2
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A lot of companies will be filing for bankruptcy protection as a way to avoid paying ongoing contractual obligated expenses.

I would be shocked if Cirque didn't continue, after the Covid restrictions are lifted.

We will be seeing a lot of this going forward, in many different industries.
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Old 06-29-2020, 12:20 PM   #3
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Originally Posted by blankall View Post
A lot of companies will be filing for bankruptcy protection as a way to avoid paying ongoing contractual obligated expenses.

I would be shocked if Cirque didn't continue, after the Covid restrictions are lifted.

We will be seeing a lot of this going forward, in many different industries.
CFL likely will be heading down this road.
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Old 06-29-2020, 06:25 PM   #4
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CFL likely will be heading down this road.
Very unlikely. The CFL have been through a lot of tough times and they always pull through, this time won't be any different.
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Old 06-29-2020, 07:14 PM   #5
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Very unlikely. The CFL have been through a lot of tough times and they always pull through, this time won't be any different.
Has the CFL ever have a half season, or a flat out cancelation before? CFL is very gate driven. With league operation costs higher than in the past, and getting absolutely nothing in, with the league struggling in major markets as it is, they're not in a good position.
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Old 06-30-2020, 06:37 AM   #6
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Originally Posted by Fire View Post
Very unlikely. The CFL have been through a lot of tough times and they always pull through, this time won't be any different.
Don't kid yourself. It's being discussed in league circles;

https://twitter.com/user/status/1275098623412297734

https://twitter.com/user/status/1275099272648757251

Last edited by Erick Estrada; 06-30-2020 at 06:41 AM.
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Old 06-30-2020, 11:22 AM   #7
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Very unlikely. The CFL have been through a lot of tough times and they always pull through, this time won't be any different.
Even before Covid started, the CFL just was not attracting fans as it did prior. Viewership and attendance has been declining for a while now. This is a long term pattern that is going on across the board for the last 5-10 years (well maybe not in Saskatchewan).

Young people especially, simply are not interested in watching the CFL. I just don't see how the CFL is viable without attracting a young audience.

The CFL is asking the government for help:

https://globalnews.ca/news/6880551/c...nce-covid-cfl/
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Old 06-30-2020, 11:26 AM   #8
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I thought adding Halifax to the CFL could revitalize the league, but there are issues there too:

The group trying to bring a CFL team to Halifax insists the project is healthy despite a mounting number of setbacks standing in its way.

https://huddle.today/bad-news-mounts...fax-cfl-hopes/
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Old 06-30-2020, 12:45 PM   #9
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i also read that the circus of the sun was carrying a billion dollar debt load.

from what i read the circus laid off the majority of their workers, so i guess i wonder what costs are left? equipment rental? leases on venues (although i wonder if lease charges would be waived given the situation).

will be interesting to see what happens if these kind of situations are delat with via bankruptcy, and then they come out of the ashes with a rebrand - some banks are left holding the unpaid debt
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