Avant Gardner LLC has filed for Chapter 11 bankruptcy, affecting the future of Brooklyn Mirage. The company intended to reopen the venue in May after remodeling, but all shows have been canceled due to permit issues. While Great Hall and Kings Hall will remain operational during the bankruptcy, a lender will take over Avant Gardner's assets through debtor-in-possession financing. The company's leadership also changed as Gary Richards, the non-executive chairman, replaced Josh Wyatt as CEO. This restructuring aims to stabilize the company and focus on future developments.
Avant Gardner LLC, operating Brooklyn Mirage, has filed for Chapter 11 bankruptcy, affecting the planned reopening and scheduled shows.
The company struggles to secure necessary permits for Brooklyn Mirage amidst bankruptcy, although Great Hall and Kings Hall will remain open.
The lender will assume possession of Avant Gardner's assets through debtor-in-possession financing, leaving the future of Brooklyn Mirage uncertain.
Gary Richards, non-executive chairman, replaced Josh Wyatt as CEO and stated that restructuring is the best way to stabilize Avant Gardner and plan for the future.
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