Cirque goes bankrupt

[blaxx]

Posted: 6/29/20 at 3:18pm

https://business.financialpost.com/news/retail-marketing/cirque-du-soleil-files-for-bankruptcy-following-shutdowns

[uncageg]

Posted: 6/29/20 at 4:11pm

I worked on their "Dralion" tour. Really fun company to work for. It was amazing to watch how they ran their show sites. when I first started they told us up front not no feel slighted but and hour before showtime, they would all start communicating in French, not to be rude, but it was to get things done in time to open the sites. It was pretty cool. The site would open and they would revert back to English. It was hands down one of my favorite jobs. (And boy can they party!)

I really think they just put too many shows out there. For me, it was special, in the beginning, when a Cirque show would come around. But it seemed that they were just recycling acts around a new themed show. In Vegas we couldn't decide which one to see so opted for KA because it was the newer show at the time. Glad I saw it.

 

Updated On: 6/29/20 at 04:11 PM

[RippedMan]

Posted: 6/29/20 at 4:33pm

Does sound like they're going anywhere, just getting help. 

[Highland Guy]

Posted: 6/29/20 at 5:27pm

My husband and I frequently visit Las Vegas, and we always stay at the Bellagio Hotel.  We have seen Cirque's "O" show three times.  I don't know how it compares to other Cirque shows, but "O" is a wonderous spectacle.  I hope for the best for the Cirque family and their fans.

 

 

[morosco]

Posted: 6/29/20 at 5:50pm

The venues that I have worked in had different touring Cirque shows come through. Everyone on the Cirque staff were delightful to work with. Incredibly professional people. One thing that I will always remember is their customer service philosophy. If a customer changed their minds and decided they didn't want to see one of their shows we were to, without hesitation, give them a refund. If a customer came across a discount after they had purchased their tickets and requested to apply the discount, we were to apply the discount. If a customer wanted to exchange their tickets, we were to exchange their tickets. It was SO refreshing to be given the power to never say no to the customer.

Feld Entertainment on the other hand.... well I won't go there.  

[BrodyFosse123]

Posted: 6/29/20 at 5:53pm

Sad to see them go though. Even with "acts" you had seen before, it was always a fun time under the big top.

Geez, Louise.  They filed for bankruptcy protection - they didn’t pull the plug forever.

"For the past 36 years, Cirque du Soleil has been a highly successful and profitable organization," said Daniel Lamarre, CEO of Cirque du Soleil Entertainment Group in a release. "However, with zero revenues since the forced closure of all of our shows due to Covid-19, management had to act decisively to protect the company's future."

[FindingNamo]

Posted: 6/29/20 at 6:06pm

I will say that "O" is one of the greatest things I have ever seen. What the human imagination can come up with when it has a (seemingly) unlimited budget!

[blaxx]

Posted: 6/29/20 at 6:25pm

RippedMan said: "Does sound like they're going anywhere, just getting help."

It does seem evident all their productions have permanently closed. Hope they bounce back but looks like it won't be easy and nowhere near to the amount of business they had up until now.

[everythingtaboo]

Posted: 6/29/20 at 7:50pm

The shows in Las Vegas still on sale, but I think the hope is they'll be able to resume by August, should everything work out. They are amazing people overall, but I will say once they decided to get purchased by a private equity group, the powers that be went off the rails.

[SouthernCakes]

Posted: 6/29/20 at 7:50pm

What about all the hotels? Wouldn’t they suffer then too?

[Blockhead24]

Posted: 6/29/20 at 9:13pm

everythingtaboo said: "The shows in Las Vegas still on sale, but I think the hope is they'll be able to resume by August, should everything work out."

There is no way we'll be back by August. 

[uncageg]

Posted: 6/29/20 at 9:14pm

BrodyFosse123 said: "Sad to see them go though. Even with "acts" you had seen before, it was always a fun time under the big top.

Geez, Louise. They filed for bankruptcy protection - they didn’t pull the plug forever.

"For the past 36 years, Cirque du Soleil has been a highly successful and profitable organization," said Daniel Lamarre, CEO of Cirque du Soleil Entertainment Group in a release. "However, with zero revenues since the forced closure of all of our shows due to Covid-19, management had to act decisively to protect the company's future.""

I knew that!   <--humor (Got it and edited. I actually had read it before and forgot.)

 

[everythingtaboo]

Posted: 6/29/20 at 9:51pm

Blockhead24 said: "everythingtaboo said: "The shows in Las Vegas still on sale, but I think the hope is they'll be able to resume by August, should everything work out."

There is no way we'll be back by August."

Well, sure. There's hope and there's reality. The reality is even before all this, they should've followed Le Reve's lead and just closed for the summer, instead of selling tickets for July up to two weeks prior and then cancel until August, same as they did for June performances. 

[broadfan327]

Posted: 6/29/20 at 9:52pm

Highland Guy said: "My husband and I frequently visit Las Vegas, and we always stay at the Bellagio Hotel. We have seen Cirque's "O" show three times. I don't know how it compares to other Cirque shows, but "O" is a wonderous spectacle. I hope for the best for the Cirque family and their fans.
 

I have seen most of the Vegas Cirque shows, and O is one of my least favorite.

"

 

[sparksatmidnight]

Posted: 6/29/20 at 9:55pm

Expanding companies often make a lot of debt because they will receive even more revenue. If you suddenly needs to pay everyone but is receiving no money, everyone who is owed can sue you and take whatever they can EXCEPT if you go into bankrupcy, where you have the time to liquidate assets, resume operation and whatnot to pay your bills. They're not going anywhere.

[Tag]

Posted: 6/29/20 at 10:14pm

broadfan327 said: "Highland Guy said: "My husband and I frequently visit Las Vegas, and we always stay at the Bellagio Hotel. We have seen Cirque's "O" show three times. I don't know how it compares to other Cirque shows, but "O" is a wonderous spectacle. I hope for the best for the Cirque family and their fans.

I have seen mostof the Vegas Cirque shows, and O is one of my least favorite"

Le Reve is far and above the best aquatic show on the Strip.

 

 

[AEA AGMA SM]

Posted: 6/29/20 at 10:51pm

Tag said: "Le Reve is far and above the best aquatic show on the Strip."

 

I saw La Reve this past November and was blown away by it. I still want to see O, but everyone recommended La Reve over it when I was debating what to see when I was there last. Maybe once things resume O will finally discount tickets, as it's been the Cirque show with the fewest amount of discounts out there (and even those discounts were not very deep when they did happen)

[broadfan327]

Posted: 6/30/20 at 12:51am

I have heard and read that Le Reve is the better show.  Last time I was there, I was going to see it, but got lazy and did not get tickets.

[PatrickDC]

Posted: 6/30/20 at 1:28am

I’m not a huge CdS fan, at least not today...same acts, just different costumes. But I did see O and while I quite enjoyed it — THAT curtain! — I found myself watching the massive rigging over the stage moving back and forth (we were in row B or C so had a good view of that.) 

I’ve also seen Le Reve and agree it is a better show, Intimate theater, no seat more than I think 15 rows away. We splurged for the VIP (last row) and could see just fine. We were also on the aisle on one of the three entryways and got to drool over the performers as they stood next to us preparing to enter. Such a sexy show. 

[Theatrefanboy1]

Posted: 6/30/20 at 8:15am

So does this mean that all the Vegas cirque shows will close? Or just the development of shows, the tours, and some of the failing shows? Is thing for certain that O and KA are now closed???

[Blockhead24]

Posted: 6/30/20 at 9:59am

Theatrefanboy1 said: "So does this mean that all the Vegas cirque shows will close? Or just the development of shows, the tours, and some of the failing shows? Is thing for certain that O and KA are now closed???"

No. The resident shows in Vegas and the one that was about to open in Disney World are not permanently closed. O especially is not going anywhere. 

 

 

[bowtie7]

Posted: 6/30/20 at 5:10pm

I believe Blue Man Group is officially closing in Las Vegas (also owned by Cirque--cast and crew have been let go) but they intend to reopen the 6 resident shows (cast and crew are furloughed) thought probably not all at once. Of course, no one really knows anything for sure. I agree that O will be back once Las Vegas returns to normal as that show was performing 14 shows/7 days a week (assume with cast members rotating days off) with little discounting before the shut down.

[SouthernCakes]

Posted: 6/30/20 at 5:36pm

Was in callbacks to be a singer for La Reve and just loved the show! So cool!

[Blockhead24]

Posted: 6/30/20 at 6:31pm

bowtie7 said: "I believe Blue Man Group is officially closing in Las Vegas. "

This is not true. They are aiming to be back once it is safe to do so.

[Phantom of London]

Posted: 6/30/20 at 8:42pm

If Cirque did go bankrupt what would happen to the Strip? There would be no shows in Vegas, which is inconceivable. Vegas tried with Broadway on the Strip and that seemed to be a big failure with show like The Phantom of the Opera, The Lion King, The Producers, Avenue Q and Hairspray all underachieving. Not sure if there was any Broadway shows playing before the shutdown?

No one is going to go to Vegas, just to pump the slots all day, they need a distraction. So if the Cirque goes then so will the Strip, even the casinos used to give out free show tickets with dinner, as oddly enough people bet more, if they were taken away and went back. So therefore I cannot see the hotel owners allowing Cirque du Soleil to go bankrupt.