HONOLULU (AP) - The 110-year-old Honolulu Symphony is preparing to sound its own death knell.
Lawyers are set to appear Monday in U.S. Bankruptcy Court to ask a judge to convert the symphony’s Chapter 11 reorganization to a Chapter 7 liquidation.
The symphony’s board of directors voted unanimously Thursday to convert the filing.
Under Chapter 7, the symphony would shut down, then sell all its remaining assets to pay creditors.
The Honolulu Symphony has been operating under Chapter 11 protection for about a year after canceling all of its concerts. Officials had said they hoped to come back as a leaner and more efficient operation.
In a filing last December, the symphony said it had assets of between $100,000 and $500,000, and liabilities of $1 million to $10 million.
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