CIRQUE ESCAPES BANKRUPTCY

Cirque du Soleil Entertainment Group said on Tuesday it had emerged from bankruptcy, after the COVID-19 pandemic forced the famed circus operator to cancel shows and lay off artists this year. The Cirque, which has slashed about 95 per cent of its workforce and suspended shows, had filed for bankruptcy protection in June. A group of creditors, led by Catalyst Capital Group, had bid to take control of the Montreal-based circus group in July, replacing a deal with Cirque shareholders that included debt financing from a Quebec government body. As a part of the deal with its creditors, Cirque said it would add the former CEO of MGM Resorts Jim Murren and Gabriel de Alba, a partner at Catalyst, to its board. Daniel Lamarre (pictured, at centre) will continue as the CEO of Cirque and the company will keep its headquarters in Montreal.