New York City Opera declared bankruptcy New York City Opera (New York City Opera) filed for bankruptcy and termination of, reports Associated Press . The decision of the bankruptcy was made after the theater was unable to raise the necessary funds to continue the work. In mid-September 2013 guidance Opera has announced that there will be forced to apply for bankruptcy if the end of the month will not be collected $ 7 million. Fundraising, in particular, has been declared by Internet service Kickstarter, by which the operator has managed to attract only 300 thousand dollars. Another two million have been drawn from other sources, but in spite of this guide New York opera was of the opinion that the future work of the theater possible. New York City Opera last few years was in financial difficulties. Since 2008, the cost of the theater fell from 48 million to 5 million, all the while Opera suffered losses. New York City Mayor Michael Bloomberg has refused to intervene with the bankruptcy of the opera, explaining that the business model of cultural institutions are not working. In 2011, the opera has left its historic site at the Lincoln Center because of financial difficulties. New York City Opera, also known as "folk opera" worked in New York since 1944. Unlike the more famous Metropolitan Opera, City Opera of New York focused on the wider population and mostly attracted American artists.
Posted on: Wed, 02 Oct 2013 02:58:58 +0000