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Kennedy Center on Brink of Bankruptcy, May Close Tuesday
Developing
In Short: The Kennedy Center, facing financial crisis and potential bankruptcy, may close as early as Tuesday, according to reports.
The Kennedy Center, on the brink of bankruptcy, may be forced to close as early as Tuesday. The institution's administration and board, largely appointed by President Trump, are grappling with financial instability and a potential shutdown.
Critics argue that the timing of this report may not be coincidental, given the center's ongoing legal battle over a name change initiated by Trump. On September 5, a portion of the ceiling in the main building's grand foyer collapsed due to rain damage, adding to the center's woes.
The board, which includes a Democrat from Ohio as an ex-officio member, claims the center is in a 'precarious fiscal position' and unable to support payroll or maintenance contracts. Most of the staff have either been fired or left, with those remaining largely loyal to President Trump.
The majority of the Kennedy Center's administration and board were selected by President Trump, and the center's chairman now serves as the president. The institution faces a status hearing on the same day it may close, overseen by Judge Christopher Cooper in a lawsuit brought by Rep. Joyce Beatty to stop the center's renaming.
What's still developing
- One says it is planning to shut down the center immediately, calling it unsafe for continued occupancy.
Sources
- NPRlink