Brooklyn Mirage remains closed due to failed safety inspections, leading to AGDP Holding's bankruptcy filing. The venue's inability to reopen and its $155.3 million debt triggered a liquidity crisis. Events continue at other venues in the Avant Gardner complex, but cancellations have affected operations. Renovations at The Great Hall and Brooklyn Mirage are ongoing, with completion expected by May 2025. However, permitting issues have delayed progress, impacting the potential for reopening. Previous challenges in 2023 also affected the company's reputation, particularly following the Electric Zoo festival issues.
Brooklyn Mirage, part of the Avant Gardner complex, has been dark for months due to failed safety inspections, which pushed its parent company, AGDP Holding, into Chapter 11 bankruptcy.
The company's bankruptcy petition reveals roughly $155.3 million in funded debt obligations, primarily driven by the venue's inability to reopen in 2025, leading to a liquidity crisis.
Avant Gardner faced significant challenges in 2023, including fallout from the Electric Zoo festival which resulted in a class action lawsuit and subsequent damage to the company's reputation.
Renovations have been underway at The Great Hall, with plans to redesign Brooklyn Mirage, but ongoing permitting issues continue to keep the venue closed, affecting its reopening.
Collection
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