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.
- On Tuesday, the Kennedy Center board of trustees meets to address financial and physical crises, with documents suggesting a potential closure of the Washington-based performing arts center.
- Since taking over as chairman, Trump has overseen a period where revenue fell to $124 million against a $220 million budget, leaving a roughly $23 million deficit.
- Structural damage also threatens the venue; 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 pandemic-era lows since the Covid crisis.
- Trustees are considering 10 text options to publicly credit Trump on the building's exterior, 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, noting that leaders say the center is on the brink of bankruptcy.
8 Articles
8 Articles
The leaders of the Kennedy Center in Washington believe that the famous institution, controlled by Donald Trump's relatives, is on the brink of bankruptcy and may have to close its main building as early as Tuesday, according to a Washington Post article released on Sunday.
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 ...
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