A federal bankruptcy judge has approved a reorganization plan allowing the presenter of the Philly Pops to leave bankruptcy in about two weeks.
The Philadelphia Inquirer reports U.S. Bankruptcy Court Judge Eric Frank applauded lawyers for arriving at a plan with minimal litigation and wished the Pops luck.
Frank Giordano, president and chief executive officer of Encore Series Inc., said after yesterday’s hearing that “Now we have to sell some tickets.”
The firm filed for Chapter 11 bankruptcy last year as part of the bankruptcy of the Philadelphia Orchestra Association, with which it was in the process of merging.
Earlier this month, the court approved a deal calling for Pops artistic director Peter Nero to step down next year after more than three decades as the group’s leader.