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World Cafe Live filed for Chapter 11 bankruptcy on Tuesday.
The beleaguered University City music venue has been facing strong headwinds, including a possible shutdown by the city of Philadelphia for tax delinquency, an eviction threat from its landlord, the University of Pennsylvania, and a staff walkout last summer.
The Chapter 11 filing will allow the organization to continue presenting concerts and employing staff while it restructures its debts. A bankruptcy filing can delay enforcement of tax delinquency and eviction.
According to legal filings, World Cafe Live, which LiveConnections.org and Real Entertainment Philadelphia operate, has between 50 and 99 creditors, with debt amounts ranging from less than $10,000 to more than $500,000.
The largest creditors are the Philadelphia Industrial Development Corporation, with $581,146 owed; the Delaware Valley Regional Economic Development Fund, with $563,142 owed; and an India-based technology firm, Ambimat Electronics, with $442,176 owed.