Avant Gardner LLC, the operator of an entertainment complex that includes New York’s beleaguered Brooklyn Mirage, has filed for Chapter 11 bankruptcy, Billboard reports and documents confirm. The company, which also runs Great Hall and Kings Hall, had planned to reopen Brooklyn Mirage in May after a remodeling, but the scheduled shows have all been canceled as Avant Gardner struggles to secure the necessary permits to open. Though Great Hall and Kings Hall will stay open during the bankruptcy process, Avant Gardner’s lender will now assume possession of the company’s assets through a debtor-in-possession financing commitment, and the future of the Mirage is uncertain.
As the planned reopening stalled, Josh Wyatt, who was appointed Avant Gardner’s chief executive officer last October, was replaced by the board’s non-executive chairman, Gary Richards. He told Billboard, “I believe this Chapter 11 restructuring is the most viable path forward—it will allow us to stabilize Avant Gardner and focus on building for the future.”