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NEW YORK - THE acclaimed Philadelphia Orchestra said on Saturday it would file for bankruptcy, the first major US performance ensemble to do so during the nation's current economic turmoil, reports said.
The 111-year-old orchestra's board voted in favour of Chapter 11 bankruptcy protection and will file legal papers shortly, The Philadelphia Inquirer newspaper quoted orchestra officials as saying.
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Source: http://straitstimes.com.feedsportal.com/c/32792/f/524623/s/143ecc45/l/0L0Sstraitstimes0N0CBreakingNews0CLifestyle0CStory0CSTIStory0I6577420Bhtml/story01.htm
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