Avant Gardner, owner of Brooklyn Mirage, files for bankruptcy

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News report: Avant Gardner, owner of Brooklyn Mirage, filed for bankruptcy after the venue failed to reopen this year.

Avant Gardner, owner of Brooklyn Mirage, files for bankruptcy

The owners of the massive East Williamsburg music complex Avant Gardner — which includes the currently closed Brooklyn Mirage, one of the largest concert venues in New York City — have filed for bankruptcy.In a statement on social media, Avant Gardner said its Great Hall and Kings Hall event venues would remain open during the Chapter 11 process. But it said the Brooklyn Mirage, which has remained shuttered for months, won’t reopen this year.The filing, submitted Monday, seeks relief for several associated LLCs, including the one responsible for the troubled Electric Zoo festival, which hasn’t been held since a debacle of a three-day event in 2023 that saw an abrupt cancellation one day and dangerous overcrowding on another.The Mirage’s much-publicized May reopening was canceled hours before doors were set to open due to permitting issues. The facility has been expected to reopen with a capacity of more than 6,200, but previously closed to undergo renovations to enhance its sound systems and expand its dance floor.The company said in the statement only that being unable to open the Brooklyn Mirage for the 2025 season was the culmination of “several months of financial distress.” It said many of the Mirage shows would move to the Great Hall or its other venues for the rest of the year.Chief Executive Officer Gary Richards told Bloomberg that even shuffling shows to other venues, the company couldn’t avoid a “significant liquidity crisis.” The company’s statement said it expected Richards, who took over two months ago, to stabilize its finances “and bring the Mirage back for 2026” and beyond.Avant Gardner has liabilities of up to $500 million and assets of no more than $100 million, according to the filing. The bankruptcy filing outlines a plan to borrow up to $45 million to help keep the business running while it goes through bankruptcy, including $20 million to address existing debts.The company said in its statement it anticipated entering into a “stalking horse” p

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