Currently all Cirque du Soleil activity is out impacted heavily by COVID-19. Cirque has been given a large infusion - fifty million dollars from main shareholders, but still bankruptcy protection is a plan as well as restart all Las Vegas shows at once. Current owners are multi billion entities - TPG capital, Fosun group (China) and Caisse de dépôt et placement du Québec (Canada) recently provided so called "emergency" lifeline to send a message to the worldwide entertainment that Cirque will be back starting with 6 shows in Vegas Daniel Lamarre said. He also noticed that : “The good news for the Vegas situation, compared to our touring situation, is about 100 percent of our artists, the cast and crew of each show, lives in Las Vegas. At least in Las Vegas we don’t have to deal with trying to regroup our touring people from a different side of the world.” After 3 to 4 wees of rehearsals with all safety measures in regards of Covid-19 Cirque du Soleil will be able to restart its shows in Vegas. First show "Mystere will be reopen at Treasure Island and MGM Resorts because this is primary partner for Cirque in Vegas. MGM at the same time planning to reopen in June. Other properties such as Bellagio with show "O" and New York-New York with show “Zumanity” will be back to business as well. Lamarr also said that Cirque could be back on stage in August or Fall.
Currently all employees (4700) including Las Vegas, about 1300 are out of work. Lamerre said that 50 million dollars provided by shareholders are some sort of a message to emoloyees and enteetainment world that shows will be back on stage, this funds has bought time for Cirque to strive and survive. However even 50 million dollars isn't enaugh for Cirque du Soleil it is "far from enough to make our organization sustainable.” Lamarre said. Another Canadian organization Canadian telecommunications conglomerate Québecor announced its plans to save the Cirque and cover payrolls of employees, paying past due money to vendors. Québecor said that they are ready to invest hundereds of millions to resume Cirque du Soleil operation. At the same time, Québecor claimed that they were not allowed to review financial books of Cirque. Daniel Lamarre and Mitch Garber (Cirque du Soleil Chairman) noted that Québecor didn't sign a confidentiality agreement and is not permitted toreview financial documents. Lamarre said : “We are going to go through the process to see all the options that we have ahead … unfortunately, the reason you are only hearing about Québecor is because they haven’t signed yet the confidentiality agreement... They didn’t sign it because I think they wanted to get some publicity before they do and that is their strategy, but all the others bidders that are interested that signed the NDA so therefore I cannot unveil their identity.” Since March 2020 Cirque investigating Bankruptcy protection (chapter11) simply because of Cirque 900 Million debt loan. Lamarre added that "... it’s a scenario. It’s one of a few scenarios that we are exploring.” Moody recently hit Cirque with "junk"credit rating, meaning Cirque du Soleil is a high risk company that possibly to default on its debt. Daniel Lamarre hope to improve and upgrade Cirque rating, he believes in artistic equity and Cirque. brand name, he said that there is a lot of interest from many people as well as its almost 5 thousand employees hoping for the best.