Quebecor confirms its interest for the Circus of the Sun

Québecor confirme son intérêt pour le Cirque du Soleil

Photo: Ryan Remiorz, The canadian Press
The company controlled by Pierre Karl Péladeau wants to first have access to the books of the Cirque to make a detailed study, but asserts that the direction of the latter prevents it from proceeding.

Quebecor wants to indeed “make the rescue of the Cirque du Soleil”, the company said Monday, indicating to be ready to “inject hundreds of millions of dollars to revive the activities of the organization and ensure its sustainability in quebec.

The company controlled by Pierre Karl Péladeau, following the information that have been circulating for a few days and want to have access to the books of the Cirque to make a detailed study, but asserts that the direction of the latter prevents it from proceeding.

“We can’t understand the lack of willingness to act on the part of the management of the Circus, because every day that passes, the future of this company mortgage dangerously, and the creative forces, augmented by thousands of jobs, suffer a significant injury,” wrote Quebec in a press release.

Hit hard by the pandemic, the Circus has performed with temporary layoffs in the month of march, a touching gesture 95% of its staff, or almost 4,700 employees. According to information of Reuters news agency at that time, the Circus would have a debt of at least $ 900 million.

“It is time to act, before that commits the judicial process of the appeal to the law on the protection of the creditors provided for in the Law on arrangements with creditors of companies (C-36),” said Quebecor. “Such a move will result in a loss of control that could lead to a conclusion that the political authorities will regret it since, thank you to tender to the highest bidder and without further consideration, the presence of the head office, and the economic impact that results from it could disappear at more or less the medium term.”

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