Avant Gardner, Brooklyn Mirage Parent Company, Files For Chapter 11 Bankruptcy

After being unable to open this summer due to a lack of proper permits, Avant Gardner, the parent company of Brooklyn Mirage, has filed for bankruptcy, according to Bloomberg. The venue was set to revamp this year with an all-new build featuring a 270-degree LED screen with 30k resolution and 100 million pixels and over 100 speakers and subwoofers. The venue initially filed for permits as a temporary structure.

“The decision to file for Chapter 11 relief follows several months of financial distress, culminating with Avant Gardner being unable to open its newly constructed Mirage event space for the 2025 season,” the promotion company said in a statement posted to its social media pages. “Many of the mirage shows are being moved to the Great Hall or otherwise relocated for the remainder of 2025.”

According to sources close to the venue, the Brooklyn Mirage will not open at all during the 2025 season. Already, the sound system and parts of the revamped LED screen have been dismantled.

AGDP Holding, the parent company of Avant Gardner LLC, filed for Chapter 11 bankruptcy with $155.3 million in funded debt obligations, Bloomberg reported. The company will hold a competitive auction for its assets, while maintaining operations as usual in the short term. The company’s key lender has provided $45.8 million in debtor-in-possession financing, which it will use to bid for AGDP’s assets.

“As part of its filings, Avant Gardner anticipates entering into a stalking horse purchase agreement pursuant to which the Company will sell its assets to an entity formed and controlled by its existing lender (subject to a court supervised over-bidding process,” the company said in its statement.

The location also hosts two other venues, Great Hall and Kings Hall, which will remain open “and operating as usual during the Chapter 11 process, continuing to serve the vibrant community of artists and fans that have made Avant Gardner a world-class performance destination,” according to a statement posted to Avant Gardner’s social media pages.

“Avant Gardner has brought in industry veteran Gary Richards as its new CEO to stabilize the Company’s finances and bring the Mirage back for 2026 and beyond,” the statement continued.

“The Avant Gardner complex is a truly special music venue that has provided cutting edge experiences over the years for artists and fans from all around the globe,” Richards said in a statement. “Everyone I speak to has had the best sets and very special memories at the Brooklyn Mirage. Two months ago, I was brought in as CEO to rebuild the company’s culture and turn the business around. I believe this Chapter 11 restructuring is the most viable path forward – it will allow us to stabilize Avant Gardner and focus on building for the future.”

The venue was scheduled to debut May 1 with Sara Landry headlining; however, the opening was delayed due to a lack of permits. Throughout the summer, shows have been relocated to venues including the Great Hall at Avant Gardner, Knockdown Center, Brooklyn Storehouse, or Central Park Summerstage, or canceled altogether, with fans being refunded.

The venue announced plans to debut a larger screen, more viewing areas and a larger dancefloor for 2025, with the build beginning in early 2025. However, the new venue never passed inspection by New York City’s Department of Buildings.

According to BK Mag, Avant Gardner interim CEO and non-executive chairman of the board, Gary Richards, was overheard discussing the company’s recent difficulties, including ongoing financial and permitting woes and an alleged attempt at selling the company while dining at Per Se. 

Amid the ongoing issues, former CEO Josh Wyatt parted ways with the venue last May after the structure was unable to reopen for its scheduled summer season. The new build has been plagued by failed safety inspections and unmet construction deadlines. Richards stepped in to manage day-to-day operations following Wyatt’s departure from the company.

However, this is not a first for the company, who famously bungled the Electric Zoo festival in 2023 with construction delays forcing the cancellation of the festival’s first day, a delayed opening on day two, and a mob rush on day three after the festival announced it reached its capacity limit with thousands of fans still waiting in line to get in, leading them to storm past the festival’s gates. 

Avant Gardner has also faced numerous struggles with the New York State Liquor Authority dating back to when it first opened its doors in 2017, with 23 disciplinary charges against Avant Gardner by the end of 2020, according to a report from Brooklyn Magazine. The SLA cited “rampant” drug use at the venue as its reason for concerns regarding the venue’s liquor license, with at least three deaths connected to drugs taken at the venue. In 2023, two bodies were found in the nearby Newtown Creek from fans who were last seen attending a show at the Brooklyn Mirage. In 2024, another body from a fan last seen attending a show at the nearby Knockdown Center was also discovered in Newtown Creek.

Despite the venue’s troubles, it ranked at No. 2 on Pollstar‘s Top 100 Clubs charts when they last reported in 2019, with 293,847 tickets sold, grossing $14.79 million.