Avant Gardner has filed for Chapter 11 bankruptcy under AGDP Holding in Delaware, citing approximately $155.3 million in funded debt obligations. The company's acting CEO, Gary Richards, mentioned a significant liquidity crisis stemming from the postponement and cancellation of events at the Brooklyn Mirage. Financing arrangements taken before the bankruptcy are now under dispute due to aggressive collection activities from financiers. Despite the bankruptcy filing, the Great Hall and Kings Hall at Avant Gardner will continue to operate normally, serving the community of artists and fans.
AGDP Holding, the parent company of Avant Gardner LLC, filed for Chapter 11 bankruptcy in Delaware with around $155.3 million in funded debt obligations.
Richards pointed to 'increasingly aggressive collection activities' from certain financiers and contractors in court documents dated August 4.
The Avant Gardner event complex is a truly special music venue that has provided cutting edge experiences over the years for artists and fans from all around the globe.
Avant Gardner's Great Hall and Kings Hall event venues are to remain open and operating as usual during the Chapter 11 process.
Collection
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