Sept 13 (Reuters) – Leaders of the John F. Kennedy Center for the Performing Arts say it is on the brink of bankruptcy and could close as early as Tuesday, the Washington Post reported on Sunday.
The leaders, installed by U.S. President Donald Trump, argue that putting the president’s name on its facade may be the only way to avoid imminent and “certain fiscal collapse,” according to the newspaper, citing documents it obtained.
The paper said a report, prepared by the institution’s trustees, claims that within a few weeks the institution won’t be able to pay employees or meet maintenance costs. The report was prepared in advance of a meeting that is scheduled for Tuesday.
The Post also said that Trump will help the Kennedy Center if his involvement is acknowledged. The trustees’ report represents “a remarkable new phase in Trump’s takeover of the Kennedy Center, which has been engulfed by financial turmoil, leadership upheaval and litigation since he installed himself as chairman last year,” the paper said.
The Post also noted that Trump’s involvement with the Kennedy Center, which included the addition of his name to the building, impaired fundraising work and ticket sales.
The Kennedy Center did not immediately respond to a request for comment.
(Reporting by Chandni Shah in Bengaluru and Michael S. Derby; Editing by Tom Hogue and Thomas Derpinghaus)
Comments