US Kennedy Center faces bankruptcy, Washington Post reports
Board of trustees recommends that the main building be closed immediately due to costs, US newspaper reports.
The John F Kennedy Center for the Performing Arts in Washington, DC, is on the brink of bankruptcy and could close as soon as Tuesday, The Washington Post has reported.
According to the report in the United States newspaper on Sunday, the institution’s board of trustees, of which President Donald Trump is the chairman, has argued that putting the president’s name on the facade could be the only way to avoid imminent and “certain fiscal collapse”.
The trustees also say the institution will not be able to pay employees or meet maintenance costs within a few weeks.
The Post also said Trump would 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.