Kennedy Center could close as early as Tuesday, warns of bankruptcy, documents show
Documents say the center faces a possible payroll crunch and a $23 million deficit after spending cuts and falling ticket sales.
- The Kennedy Center board of trustees, chaired by President Donald Trump, meets tomorrow to address financial and physical crises confronting Washington's performing arts center, with documents suggesting potential closure.
- Since taking over as chairman, Trump oversaw a period where the Kennedy Center collected $124 million against a $220 million budget, leaving a roughly $23 million deficit even after spending cuts.
- The building itself sustained damage earlier this month when a "roughly four-by-five-foot section of ceiling plaster broke loose in the Grand Foyer and fell about 60 feet," while ticket sales plummeted to their lowest levels since the Covid pandemic.
- Trustees are being asked to choose among 10 texts for the building's exterior to publicly credit Trump, with a spokesperson stating adding his name is "crucial to raising additional funds for the Center's renovation."
- Officials warn the institution "could be unable to make payroll or pay routine maintenance contracts" within weeks, as leaders say the center faces imminent and certain fiscal collapse without intervention.
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Kennedy Center on brink of bankruptcy, could close as early as Tuesday, Washington Post reports
Sept 13 (Reuters) - Leaders of the John F. Kennedy Center for the Performing Arts say it is on the brink of bankruptcy and could close as early as Tuesday, the Washington Post reported on Sunday. The leaders, installed by U.S. President Donald...
Kennedy Center Could Close as Early as Tuesday
“Leaders of the John F. Kennedy Center for the Performing Arts, installed by President Donald Trump, say the center is on the brink of bankruptcy and argue that putting the president’s name on its facade — and thus ensuring his fundraising efforts — may be the only way to avoid imminent and ‘certain fiscal collapse,'” […]
The John F. Kennedy Center for the Performing Arts is on the verge of bankruptcy and could close as early as Tuesday, according to a report in the Washington Post. The center's leaders, who have been appointed by US President Donald Trump, argue that the inscription of the US president's name on the facade of the building could ...
The John F. Kennedy Center for the Performing Arts is on the verge of bankruptcy and could close as early as Tuesday, according to a report in the Washington Post. The center's leaders, who have been appointed by US President Donald Trump, argue that the inscription of the American president's name on the facade of the building may ... More www.ertnews.gr
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