K-W Symphony says it needs $2 million to restructure

Almost three days after the abrupt cancellation of its upcoming season, the Kitchener-Waterloo Symphony has released a statement addressing its financial problems.

Almost three days after the abrupt cancellation of its upcoming season, the Kitchener-Waterloo Symphony has released a statement addressing its financial problems.

In a news release Tuesday, the symphony said it needs around $2 million to restructure and find a new path forward, but doesn’t specify where that money would go.

“We are open to immediate conversations with governments and other potential supporters about possible ways to secure this funding,” it said.

“KWS is exploring all possible options up to and including insolvency.”

On Saturday evening, the symphony sent an email to the more than 50 musicians it employs telling them it had cancelled the upcoming season. The musicians were due to return to work the next day.

On Sunday evening, it informed ticket holders all upcoming performance has been cancelled. All ticket purchases are non-refundable, it said. Previously purchased tickets will be eligible to receive a tax receipt.

On Tuesday, the symphony said it has been devastated by an unprecedented rise in costs following the pandemic.