Washington's Kennedy Center on the brink of bankruptcy according to the Washington Post

The leaders of the Kennedy Center in Washington believe that the famous institution, controlled by people close to Donald Trump, is on the verge of bankruptcy and could have to close its main building as early as Tuesday, according to an article in the Washington Post published on Sunday.

According to documents obtained by the American newspaper, the board of directors of the Kennedy Center must vote on Tuesday on a possible closure of the main building of this center dedicated to the performing arts, due to financial difficulties and necessary renovation work. Center officials warn that they “may no longer be able to pay salaries or honor routine maintenance contracts,” the Post reports.

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The board of directors had already voted in March to close for two years for renovation. Donald Trump, who at the start of his second term placed his close friends at the head of the board of directors of the institution, in December added his name to that of his distant Democratic predecessor to rename it the “Trump Kennedy Center”. But the change was blocked by the courts.

“A deficit of around $23 million”

The board of directors argues in a file consulted by the Washington Post that publicly supporting Mr. Trump within the center could help obtain funding and ensure the sustainability of the establishment. “The administrators will have to choose from ten texts which could be affixed to the facade of the building, under its name”, in order to thank the American president for this renovation, reports the newspaper.

Many artists canceled their concerts in this venue after it was taken over by Donald Trump. According to US media, Kennedy Center ticket sales have fallen to their lowest level since the Covid-19 pandemic.

According to the Washington Post, the center is due to collect about $124 million of the $220 million in revenue projected in its budget, "leaving a deficit of about $23 million, even after significant spending cuts" in the last fiscal year. The building itself was damaged during a severe storm earlier this month, during which "part of the ceiling plaster... came loose," the newspaper reported.

Asked by AFP, the center refused to comment, inviting reference to the statements of spokesperson Roma Daravi on September 4, who had denounced “decades of neglect and postponement of work by the previous management”. “Adding President Donald Trump’s name to the building attracted new donors,” the center said in a memo detailing its financial decisions.