Philly Pops is Ready to Exit Bankruptcy

Philly Pops is an orchestra in Philadelphia that made history when they declared bankruptcy earlier this year. Thankfully, the presenter for the musical group as approved on Wednesday, and the group hopes to exit bankruptcy within the next month. The bankruptcy judge who is working on the case applauded lawyer for arriving a plan without too much litigation. He approved the new plan, and wished the Philly Pops luck as they try to boost their ticket sales in an effort to sustain their occupation.

Frank Giordano, the president of Encore Industries Inc., says that he just hopes that they can sell the amount of tickets that they need to keep the musical group alive. Encore filed for a Chapter 11 bankruptcy back in April of 2011, as part of the bankruptcy that affected the entire Philadelphia Orchestra Association. Since the filing, many of the executives associated with the Philadelphia Orchestra have been able to work through difficulties and renegotiate a contract with the Pops conductor.

In the contract negotiation, conductor Peter Nero agreed that he would lead some concerts in the 2012-13 season and then conduct the Pops only occasionally. Another conductor, Marvin Hamlisch, was originally slotted to take over the other performances. Sadly, this man passed away on August 6^th, leaving his position to Michael Krajewski, a conductor at the Houston Symphony and the Atlanta Symphony. The businessmen who are strategizing ticket sales for the Philadelphia orchestra believe that Krajewski’s presence and a series of concerts will boost ticket sales and subscriptions to the orchestra.

They are forecasting over $2.3 million in ticket sales in the next season. If you are losing money in your business, you may need to talk to a bankruptcy attorney to refinance your expenses. This may help you to get a fresh new start in life, and have the ability to continue your occupation while still getting out of debt.