The parent company behind Brooklyn Mirage, one of New York City’s most iconic outdoor music venues, has filed for Chapter 11 bankruptcy. AGDP Holding, which owns the Avant Gardner event complex, made the filing in Delaware, revealing approximately $155.3 million in funded debt obligations, according to Bloomberg.

Renovation Woes Lead to Delays and Debt

The decision to declare bankruptcy follows major setbacks in reopening the Brooklyn Mirage after a large-scale renovation project. Initially scheduled to reopen on May 1st, the venue has remained closed due to delays, permitting issues, and cost overruns. These complications caused significant strain on the company’s cash flow.

A Crisis at the Top

Gary Richards, Avant Gardner’s newly appointed CEO as of late May, acknowledged in court filings that the company is experiencing a “significant liquidity crisis.” Richards pointed to ongoing financial pressures, including aggressive collection efforts from financiers and contractors, as key factors in the company’s mounting instability.

Uncertain Future for Upcoming Shows

The bankruptcy filing casts uncertainty on the status of previously announced events, including upcoming shows featuring Deadmau5, Black Coffee, and Themba. While no official word has been given about cancellations, the venue’s continued closure leaves ticket holders and fans in limbo.

Mirage’s Future Hangs in the Balance

Just last month, reports surfaced that Avant Gardner was actively seeking a buyer for Brooklyn Mirage. Now, with the venue under bankruptcy protection, the future of one of NYC’s premier nightlife spots remains unclear. The dance music world is watching closely to see whether the Mirage can rise again, or if this marks the end of an era.