Philadelphia Orchestra Files For Bankruptcy

Posted by Kendall Harmon

Last Friday we reported that the Philadelphia Orchestra was on the verge of declaring bankruptcy. On Saturday, the orchestra's board indeed voted in favor of the measure — the first major American orchestra to do so. Philadelphia Orchestra concerts are expected to continue as scheduled for the foreseeable future.

The Philadelphia Inquirer's Peter Dobrin covered many of the details in this article yesterday. Orchestra officials — chairman Richard Worley and CEO Allison Vulgamore — have published a letter to patrons on the organization's web site, explaining why the board voted the way it did. They also announced a new fundraising campaign.

Read or listen to it all.

Filed under: * Culture-WatchMusic* Economics, PoliticsEconomyThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in GeneralCity Government

Posted April 18, 2011 at 12:44 pm

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