New York’s Avant Gardner has filed for chapter.
AGDP Holding, the guardian firm of the favored digital music occasions advanced that homes the still-shuttered Brooklyn Mirage, filed for Chapter 11 chapter in Delaware with near $155.3 million in long-term debt, Bloomberg experiences.
The information arrives amid a three-month delay to the reopening of its flagship out of doors venue after an estimated $30 million renovation to the Brooklyn Mirage earlier this 12 months. The venue was initially scheduled to reopen on Could 1, however has been indefinitely postponed after failed security inspections and allow woes.
Avant Gardner interim CEO Gary Richards, who changed Josh Wyatt on the finish of Could, stated in a courtroom submitting that value overruns, delays, and allowing points have sparked a “important liquidity disaster” for the corporate. He additionally alleged “more and more aggressive assortment actions” from sure lenders.
Final month, BK Magazine reported that Avant Gardner struggled to safe a purchaser for the East Williamsburg advanced. Late final week, an nameless Avant Gardner worker instructed BK Magazine, “Brooklyn Mirage undoubtedly isn’t opening this 12 months, and it’s wanting very possible it received’t open subsequent 12 months both. The entire thing is a catastrophe.” Avant Gardner hasn’t launched an official assertion on the ordeal for the reason that cancellation of its Memorial Day Weekend occasions on Could 20.
The Brooklyn Mirage occasion calendar on Avant Gardner’s web site has been eliminated, with all beforehand scheduled occasions on the open-air venue successfully canceled or moved elsewhere. Many exhibits have moved to Greenpoint’s Beneath the Okay Bridge Park, whereas different Avant Gardner exhibits proceed to go forward within the advanced’s indoor Nice Corridor.
It now seems the Brooklyn Mirage is focusing on a summer time 2026 reopening. A current submitting by the corporate for a Momentary Place of Meeting Certificates requests a begin date of June 1, 2026, BK Magazine experiences.
Featured picture courtesy: Avant Gardner. Credit score: Chris Lavado.
