Next Stop For Louisville May Be Bankruptcy

The musicians of the Louisville Orchestra have rejected a management proposal which included wage cuts and a shorter season, and the orchestra says it may file for bankruptcy as early as next week. “The orchestra has approximately $1.3 million in bank debt, with $800,000 of that past due and the balance due early next week,” according to its board chairman, who also points out that the ensemble’s staff and conductors have taken a 10% pay cut, which is larger than that being asked of the musicians. The musicians claim that they have made many concessions over the last decade in an effort to help the organization financially.