Avant Gardner, owner of the Brooklyn Mirage, has filed for Chapter 11 bankruptcy due to liabilities up to $500 million and assets below $100 million. The Brooklyn Mirage has been closed for months following a canceled reopening in May due to permitting issues, despite recent expansions. The company's shortcomings are attributed to a liquidity crisis highlighted by CEO Gary Richards. Additionally, there are ongoing concerns regarding drug use and safety at their events, compounded by legal troubles from vendors connected to the Electric Zoo festival.
Avant Gardner, which operates the Brooklyn Mirage, has filed for Chapter 11 bankruptcy with liabilities up to $500 million and assets under $100 million.
The Brooklyn Mirage facility is closed indefinitely after its May reopening was canceled due to permitting issues. It underwent renovations intended to improve sound systems and expand the dance floor.
CEO Gary Richards acknowledged the company faced a significant liquidity crisis despite shifting some events to indoor venues during the Chapter 11 process.
The organization has been scrutinized for drug use and safety issues, with incidents including drug overdoses linked to its events.
Collection
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