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Symphony Files Chapter 7 Bankruptcy for Creditor Protection

The Napa Valley Register is reporting the Napa Valley Symphony Association has recently filed for chapter 7 bankruptcy protection. The quote by the president of the board certainly sounds similar to that felt by many people facing equally dark times.

“It’s not something we did lightly,” said Michael Enfield, president of the board of the association. “But sometimes when you’re on a path that doesn’t lead anywhere, it’s time to break a new path, even if it also breaks your heart to do it.”

The story of the journey to bankruptcy for the symphony also reads like a traditional family in which one member is facing tough times.

The Napa Valley Symphony Endowment is a separate legal entity but has helped the symphony to make ends meet in the past.

“In the last three years, we’ve given them $400,000. They would come to us and say, ‘If you could just help us out.’ We’d say ‘OK, but this is the last time,’” Hafleigh said.

“In January they came to us and said, ‘We haven’t paid the musicians since October.’ We felt that as a community we’d all enjoyed the music and we made sure that they were paid. But we also said ‘This isn’t working.’

“We tried to help them get through some difficulties with the thought that once the musicians’ salaries were current and past-due payables were cleared up, they could move forward and meet their budget,” Hafleigh continued.

You can read the rest of this story on the Nappa Valley Register, here.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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