Avant Gardner, homeowners of the indoor-outdoor live performance advanced together with the Brooklyn Mirage in East Williamsburg, filed for Chapter 11 chapter Monday.
The corporate’s troubles grew to become evident when the Mirage didn’t open in early Could. Avant Gardner had redesigned the 6,200-person venue, however metropolis inspectors didn’t approve the brand new construction.
Avant Gardner additionally operates the Nice Corridor and Kings Corridor on the identical advanced, and each places will proceed internet hosting exhibits throughout the chapter course of, the corporate mentioned.
“The decision to file for Chapter 11 relief follows several months of financial distress, culminating with Avant Gardner being unable to open its newly constructed Mirage event space,” Avant Gardner mentioned in an Instagram publish.
Kim Petras performs onstage throughout her sold-out present on the Brooklyn Mirage for ‘Feed The Beast World Tour’; on Oct. 9, 2023 in Brooklyn, New York. (Picture by Santiago Felipe/Getty Photographs for Kim Petras)
In its chapter filings, Avant Gardner lists as much as $500 million in debt and fewer than $100 million in belongings, based on Gothamist. The corporate plans to borrow $45 million to stay afloat throughout the Chapter 11 course of.
Avant Gardner plans to enter a “stalking horse” buy settlement with its current lender and has already secured debtor-in-possession financing from the lender, the corporate mentioned on Instagram.
The Brooklyn Mirage first opened in 2015 as a popup area, however Avant Gardner established it as a everlasting venue in 2017 and commenced increasing the operation to incorporate different live performance areas.
Whereas the venue gained important recognition and an enviously cool status, it was additionally stricken by regulatory troubles in recent times. The state Liquor Authority started monitoring the location in 2023 as a result of experiences of drug use and at the very least three overdose deaths.
Nonetheless, Mayor Adams pushed again towards the state’s surveillance of Avant Gardner, at one level suggesting town ought to create its personal liquor licensing physique. Adams had deeper ties to Avant Gardner as effectively; his longtime confidant Frank Carone was the corporate’s lawyer.
A common view of the Avant Gardner advanced that homes the Brooklyn Mirage live performance area is seen from the encircling streets, Wednesday, Aug. 16, 2023, in New York. (AP Picture/John Minchillo)
Avant Gardner was additionally accountable for the infamous 2023 catastrophe at its Electrical Zoo music pageant on Randalls Island, when the live performance venue grew to become too crowded and led to a stampede. The pageant was speculated to final three days, however entry was halted in the midst of the ultimate day.
Attendees in contrast the ultimate day to 2017’s infamous Fyre Pageant, and the occasion didn’t return in 2024.
Initially Revealed: August 4, 2025 at 3:58 PM EDT
