Avant Gardner LLC took the drastic step after it faced ongoing financial snags and failed to reopen the prized East Williamsburg open-air concert hall in time for its 2025 season.

Avant Gardner, parent company of Brooklyn Mirage, has voluntarily filed for Chapter 11 bankruptcy. Current CEO Gary Richards said in a statement in an Instagram post, "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."

Avant Gardner, the company behind the Brooklyn Mirage, has filed for Chapter 11 bankruptcy, after the music venue failed to open.

Avant Gardner has filed for bankruptcy after “several months of financial distress,” culminating with the failed reopening of the new Brooklyn Mirage.

Avant Gardner’s bankruptcy filing outlines a plan to borrow up to $45 million to help keep the business running while it goes through bankruptcy, including $20 million to address existing debts. Juergen “Billy” Bildstein, who co-founded Avant Gardner, owns 100% of the company, according to court filings.