Philadelphia Orchestra s Bankruptcy

Philadelphia(USA), Apr 17 (AFP) The acclaimed Philadelphia Orchestra has said it would file for bankruptcy, the first major US performance ensemble to do so during the nation's current economic turmoil.

"The Philadelphia Orchestra Association can confirm that its Board of Directors voted today, April 16th, to file for bankruptcy protection," it said in a statement.

Kate Johnston, a spokeswoman for the 111-year-old orchestra, said however that programming was unaffected for now.

"All concerts are going on as scheduled, including a concert tonight," she told AFP. The orchestra was performing Mahler's Symphony No. 4.

The Philadelphia Inquirer newspaper quoted orchestra officials as saying that legal papers seeking bankruptcy protection would be filed shortly.

The orchestra is nevertheless fighting for its life and plans a USD 214 million fund-raising attempt within the next few days, according to the report.


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Title: Philadelphia Orchestra s Bankruptcy

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