Avant Gardner LLC, the operator of an leisure complicated that features New York’s beleaguered Brooklyn Mirage, has filed for Chapter 11 chapter, Billboard experiences and paperwork affirm. The corporate, which additionally runs Nice Corridor and Kings Corridor, had deliberate to reopen Brooklyn Mirage in Might after a transforming, however the scheduled reveals have all been canceled as Avant Gardner struggles to safe the mandatory permits to open. Although Nice Corridor and Kings Corridor will keep open throughout the chapter course of, Avant Gardner’s lender will now assume possession of the corporate’s belongings via a debtor-in-possession financing dedication, and the way forward for the Mirage is unsure.
Because the deliberate reopening stalled, Josh Wyatt, who was appointed Avant Gardner’s chief govt officer final October, was changed by the board’s non-executive chairman, Gary Richards. He instructed Billboard, “I consider this Chapter 11 restructuring is essentially the most viable path ahead—it would permit us to stabilize Avant Gardner and give attention to constructing for the long run.”
