06. December 2008 · Comments Off · Categories: Another One Bites the Dust

The Virginia Symphony Orchestra may have to file for Chapter 11 bankruptcy protection and musicians might have to go without their next paycheck if the group does not receive a $1 million loan from the city of Norfolk’s Economic Development Authority, Executive Director Carla Johnson said Thursday.

Mayor Paul Fraim said the loan, if granted, would come from interest income on bonds issued by the authority and would not have to be approved by the City Council.

“I don’t blame the symphony for asking for $1 million, but I believe that is beyond what would be prudent,” Fraim said Thursday.

Read more here.

They aren’t gone yet, but how bleak is this going to get, anyway?

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