After filing for bankruptcy protection in November, the Big Apple Circus is now putting its assets up for auction, the New York Daily News reported yesterday. Buyers can put in bids by a Feb. 3 deadline and the court-ordered auction is expected to be held Feb. 7. The one-ring circus said its debts amounted to $8.3 million, against assets of $3.8 million, in its chapter 11 filing. The circus' woes began after the 2008 financial crisis, legal documents show. At its height, the circus earned $18 million in the 2007-2008 season, performing over 350 shows in eight cities and towns. Read more.
In related news, the Ringling Bros. and Barnum & Bailey circus announced that the show is closing later this year, after nearly a century-and-a-half run, a move that may signal the final act of an entertainment tradition embedded in American culture proved itself an enduring family entertainment, the Wall Street Journal reported yesterday. In recent years, the show struggled with sagging ticket sales, rising costs and opposition from animal-rights groups. Kenneth Feld, the 68-year-old chairman and chief executive of Feld Entertainment, the circus’ parent company, said that 462 employees, covering two touring Ringling shows and administrative staff, will be affected by the shutdown. Feld also said that the circus has about 85 animals, but that his company would assure they have new homes after the shows end in May. Read more. (Subscription required.)