Avant Gardner filed for voluntary Chapter 11 bankruptcy following months of financial distress, primarily caused by failing to open its newly constructed Mirage event space for the 2025 season. Despite renovations set to complete by May 1, the venue could not pass city inspections required for occupancy permits. The company has accrued over $155 million in secured debt obligations and owes $6.5 million in taxes, amidst taking out various loans for improvements. However, it has secured a financing commitment from a lender likely to purchase its assets.
Avant Gardner filed for voluntary Chapter 11 bankruptcy, expressing financial distress after being unable to open its new Mirage event space due to city inspection failures.
The company owes over $155 million in secured debt obligations and $6.5 million in taxes while also taking out several loans for property improvements.
Collection
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