Kennedy Center faces reported bankruptcy as trustees consider immediate closure
The Washington performing arts institution could close as soon as Tuesday amid a reported revenue shortfall, mounting costs and leadership turmoil under Donald Trump’s chairmanship.
The John F Kennedy Center for the Performing Arts in Washington, DC, is reportedly facing bankruptcy and could close as soon as Tuesday, according to The Washington Post, as cited by Al Jazeera.
A 57-page trustees’ report reportedly warns of “certain fiscal collapse” and says the centre could be unable to pay staff and meet maintenance costs within weeks. Trustees are recommending that the main building be closed immediately because of its operating costs.
The centre reportedly budgeted for US$220 million in revenue but expects to collect about US$124 million, leaving an estimated US$23 million deficit even after substantial spending cuts.
Donald Trump is chairman of the board of trustees. The report, prepared ahead of a special meeting on Tuesday, reportedly says Trump’s support may depend on his name being acknowledged on the building. A court blocked a previous proposal to rename it the “Trump-Kennedy” Center.
The institution has faced financial turmoil, leadership upheaval and litigation since Trump took over as chair last year. Artists have cancelled performances, while reported ticket sales have fallen to their lowest level since the COVID-19 pandemic.
A centre spokesperson reportedly blamed the financial problems on previous leadership and said Trump’s name had attracted new donors. The reported bankruptcy risk, financial projections and possible closure have not been independently confirmed in the source material.
