Kitchener-Waterloo Symphony files for bankruptcy
CTV
It comes less than a week after the symphony abruptly cancelled its upcoming season and days after leadership announced they needed to secure $2 million by Friday to avoid insolvency.
The Kitchener-Waterloo Symphony has filed for bankruptcy.
The 78-year-old symphony made the announcement late Thursday afternoon.
It comes less than a week after the symphony abruptly cancelled its upcoming season and days after leadership announced they needed to secure $2 million by Friday to avoid insolvency.
Musicians, who are now out of jobs, started a grassroots fundraising campaign to save the symphony.
Despite becoming GoFundMe's highest earning Canadian campaign this month just a day after launching, it wasn't enough.
“We are absolutely devastated about this outcome,” Rachel Smith-Spencer, chair of the symphony’s board of directors, said in a news release.
“In the last three days, we have appealed to all of our major stakeholders and have exhausted all available avenues to secure the $2 million required immediately to continue operations.”
