Royal Opera Facing Bankruptcy?
Sweden’s Royal Opera is facing a financial crisis which may force it to close, according to the opera's director. The opera has debts of almost US$1.4 million.
As part of a series of cost cutting measures the opera has announced the cancellation of this season’s only modern production which it is commissioned to stage each year by the Swedish state.
Planned renovations of stage equipment have also been cancelled and if the budget cannot be brought under control this year, the opera’s managing director says it may be declared bankrupt.