US Kennedy Center faces bankruptcy, Washington Post reports

Key Points:

• The John F. Kennedy Center for the Performing Arts in Washington, DC, is facing imminent bankruptcy and could close as soon as Tuesday due to severe financial and maintenance issues, according to The Washington Post.
• The center's board of trustees, chaired by President Donald Trump, has suggested that adding Trump's name to the building facade might be the only way to avoid fiscal collapse.
• The board is expected to consider closing the main building immediately because of high costs and ongoing renovation needs during a special meeting on Tuesday.
• Since Trump became chairman last year and attempted to rename the center the “Trump-Kennedy Center,” the institution has experienced financial turmoil, leadership upheaval, litigation, declining ticket sales, and artist cancellations.
• The center projects a $23 million deficit this fiscal year despite spending cuts, with a spokesperson attributing problems to past financial mismanagement while claiming Trump's involvement has attracted new donors.