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The Simply For Laughs Toronto pageant is being cancelled for 2024 because of restructuring, in response to the corporate that runs the group.
In an announcement from Groupe Juste pour rire inc. (JPR), it says the pageant won’t go forward this 12 months however that it “hopes” the pageant will happen in 2025.
The comedy pageant in Toronto was scheduled for September.
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Earlier this week, the comedy pageant in Montreal was additionally cancelled.
On March 5, JPR had introduced it was submitting a discover of intention to make a proposal underneath Canada’s chapter and insolvency act.
“JPR’s board of administrators, after having extensively thought of all obtainable options, got here to the conclusion that the monetary scenario of the group left no different selection than to provoke formal restructuring proceedings,” the corporate stated in an announcement.
The corporate laid off 75 staff — roughly 70 per cent of its workforce.
Juste pour rire blamed its monetary woes on quite a few elements, together with the COVID-19 pandemic, inflation and the altering leisure business, although court docket information present a bailiff seized greater than $800,000 in property from the corporate final week after it did not make a court-ordered fee to a former worker.
— With information from The Canadian Press
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