NEW YORK (CBSNewYork/AP) – New York City Opera said the company will file for bankruptcy protection and wind down operations after failing to raise enough money to stage the rest of its season. “It’s very […]
The New York City Opera could be going silent after this weekend if it does not collect a total of $7 million.
The 70-year-old company says it plans to file for bankruptcy and scrap the bulk of its 2013-14 season unless it somehow manages to reach its $7 million fundraising goal by Monday.
A union representing workers at the financially troubled New York City Opera says it will file unfair labor practice charges after the board voted to move out of the Lincoln Center and cut staff.
Friday’s move comes as the 68-year-old organization deals with a dwindling endowment, a multimillion-dollar deficit, and contentious negotiations with its union staff.