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  • Rival bid for Cirque Involved NO Layoffs or Public Handouts

    Rival bid for Cirque Involved NO Layoffs or Public Handouts

    A group representing the majority of creditors owed money by the Cirque du Soleil presented a formal offer to acquire the Cirque two weeks ago and it was a deal that included no layoffs and no government handouts. It would have also ensured that control of the Montreal-based circus remain in Quebec.

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  • In addition to debt, Cirque’s net loss increased too

    In addition to debt, Cirque’s net loss increased too

    Cirque du Soleil was in a vulnerable position before the COVID-19 pandemic paralyzed its activities, according to a report. Carried out by Ernst & Young – the firm overseeing Cirque du Soleil’s restructure under creditor protection – the report shows the company’s net loss gradually increased from USD $10 million to USD $80 million from 2017 to 2019. As of March 31, the company’s various debts totalled nearly USD $1.6 billion, according to a document filed with the Superior Court of Quebec.

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  • Lenders Want CEO Lamarre out of Cirque du Soleil

    Lenders Want CEO Lamarre out of Cirque du Soleil

    A group of lenders angry over Cirque du Soleil’s bankruptcy plans are mulling a plan to remove Lamarre, who has been Cirque’s CEO since 2001. The lenders want to squash Cirque’s plan to give TPG and the other investors a 55-percent stake in the company in exchange for a $400 million lifeline. If the judge refuses this request, they plan to ask him to replace Lamarre as CEO and as a board member.

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  • Don’t Blame the Virus for Cirque du Soleil’s Trouble

    Don’t Blame the Virus for Cirque du Soleil’s Trouble

    You might have heard that Cirque du Soleil filed bankruptcy yesterday. As you might expect, the company blamed those shutdowns for its troubles. The filing should not have surprised anyone who's been watching the industry. Cirque was in trouble since long before "coronavirus" entered everyone's vocabulary.

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  • Cirque Announces Comprehensive Plan to Restart Business

    Cirque Announces Comprehensive Plan to Restart Business

    Cirque du Soleil announced today that it and certain of its affiliated companies have filed for protection from creditors under the Companies' Creditors Arrangement Act ("CCAA") in order to restructure its capital structure. Its application under the CCAA will be heard tomorrow by the Superior Court of Québec. If the Court grants the initial order sought, the Company will seek its immediate provisional recognition in the United States under Chapter 15 of the US Bankruptcy Code in the United States Bankruptcy Court.

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  • Cirque du Soleil Files For Bankruptcy

    Cirque du Soleil Files For Bankruptcy

    In a move that would have been unheard of even a year ago, Cirque du Soleil, the Las Vegas Strip’s preeminent production company for more than two decades, has filed for bankruptcy. The company, which has six productions on the Strip, announced Monday morning from its headquarters in Montreal it was seeking a debt restructuring protection under its home country’s Companies’ Creditors Arrangement Act (CCAA).

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  • Laliberté accepts Dragone’s support — but not financially

    Laliberté accepts Dragone’s support — but not financially

    Two men who changed the trajectory of entertainment in Las Vegas, Guy Laliberté and Franco Dragone, still share a creative passion. They are forever linked by their history in Cirque du Soleil. But they are not connected financially. This is a critical reminder as Laliberté attempts to reclaim ownership of the financially beleaguered Cirque, while Dragone attempts to fend off tax-fraud charges in Belgium.

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  • Cirque du Soleil has lost its way, co-founder Ste-Croix says

    Cirque du Soleil has lost its way, co-founder Ste-Croix says

    Tuesday was the 36th anniversary of the first Cirque du Soleil show, and a group of circus performers and artisans marked the birthday by reminding people that the troubled Montreal-based circus, which is in dire financial straits, owes them $1.5 million for work they have done over the past year. Also at the protest was Gilles Ste-Croix. Ste-Croix says he backs the artists and feels strongly that the Cirque has lost its way in the five years since Laliberté sold the company for a reported US$1.5 billion to American and Chinese investors.

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  • Dragone joins Laliberte in Cirque buyback effort

    Dragone joins Laliberte in Cirque buyback effort

    The man who has heightened the art of aquatic productions is making waves again in Las Vegas. We speak of the esteemed entertainment trailblazer Franco Dragone, creator of "O" at Bellagio. The veteran producer and director confirmed Monday he has joined Guy Laliberte's effort to buy back Cirque du Soleil, which would mean a reunion between artistic visionaries who worked together for 13 years ending with "O's" debut in 1998.

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  • Cirque du Soleil gets $1.2 billion buyout offer from creditors

    Cirque du Soleil gets $1.2 billion buyout offer from creditors

    A group of financial lenders is angling to acquire Cirque du Soleil in a possible bankruptcy reorganization — and they may partner with its charismatic co-founder, The Post has learned. The cash-strapped circus on Monday got a proposal from creditors to inject $300 million into Cirque du Soleil under a bankruptcy restructuring that also would convert the company’s $900 million in debt into a 100-percent ownership stake, according to sources close to the situation.

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  • Laliberté can’t recover $41M Flight as a Business Expense

    Laliberté can’t recover $41M Flight as a Business Expense

    The billionaire founder of the Cirque du Soleil is ending efforts to recover millions of dollars paid to Canadian tax authorities relating to his 2009 stay on board the International Space Station. Laliberte was trying to avoid having to pay tax on the $41.8-million bill that accompanied his space trip, by arguing that these were business expenses and not a personal stay.

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  • Kelly: Why is Quebec bailing out the majority American-owned Cirque du Soleil?

    Kelly: Why is Quebec bailing out the majority American-owned Cirque du Soleil?

    There is an Alice in Wonderland quality to the Quebec government’s plan to bail out the Cirque du Soleil. When Quebec Economy Minister Pierre Fitzgibbon announced earlier this week that his government was giving a US$200 million loan to the world-famous Montreal-based circus, he said they were doing this first and foremost because they wanted the troubled Cirque to remain under Quebec control.

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  • Founder Guy Laliberté will bid to buy back Cirque du Soleil

    Founder Guy Laliberté will bid to buy back Cirque du Soleil

    Cirque du Soleil founder and former CEO Guy Laliberté wants to get back into the circus biz. On Sunday on the popular Radio-Canada talk show Tout le monde en parle, Laliberté announced he is going to launch a bid to try to buy back the Cirque du Soleil. In an opinion piece in the Gazette earlier this month, Laliberté wrote: “A few days before the registration deadline for the battle royal, I am deciding whether or not I’m going to jump into that wrestling ring. …” On Sunday he jumped into the ring.

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  • Artists claim Cirque owes nearly $1M in unpaid contract work

    Artists claim Cirque owes nearly $1M in unpaid contract work

    Around 60 contract workers at Cirque du Soleil claim they haven’t been paid for services provided before the COVID-19 pandemic hit, totalling nearly $1 million in unpaid bills. In an open letter to the media, the Regroupement des Artisans des Arts du Cirque (RAAC) estimates that the average unpaid bill stands at around $16,000. For several of the artists, that number represents a significant portion of their yearly income.

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  • CirqueTech: Paramour & Clear-Com’s HelixNet & FreeSpeak II

    CirqueTech: Paramour & Clear-Com’s HelixNet & FreeSpeak II

    Hamburg's Stage Theater, Neue Flora, relied on Clear-Com's digital wireless solutions for the production of Cirque du Soleil's new musical, Paramour. The musical had already experienced great success on Broadway and had geared up for its European premiere at one of Germany's largest stage theatres.

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