‘It's as if the bankruptcy never happened’: K-W Symphony says its ready to make a comeback

The Kitchener-Waterloo Symphony’s board of directors says the association has bounced back from bankruptcy.

This comes after a proposal to creditors received unanimous support and approval from the Superior Court of Ontario.

“The proposal was accepted and then it went to the Superior Court of Ontario in London, and the judge ruled that the bankruptcy could be annulled. I think partly because the proposal then accepted no objections to it,” said Bill Poole, chair of the KWS board of directors.

The board was elected in June 2024.

“So we've been working hard on it since then. But the reason that we're at this point today is that the musicians just absolutely refused to let go of the K-W Symphony,” Poole said. “And it's their tenacity and hard work that got us to this point.”

Poole said the details are still being worked out, but for now it seems as if it will be like it was before the bankruptcy with the K-W Symphony Orchestra Association fully intact.

“It's as if the bankruptcy never happened,” Poole said. “Our incorporation documents and our charitable registration number exist, and so we're ready to start business again as if nothing has happened. With the with the added benefit that we have no debt at this point.”

History of bankruptcy

Just over a year ago, the symphony abruptly cancelled its 2023/2024 season just days before it was scheduled to start.

On Sept. 19, 2023 the organization announced it needed to secure $2 million by the end of that week to avoid insolvency.

Despite last-ditch fundraising efforts, the organization filed for bankruptcy on Sept. 22, leaving around 66 musicians and staff without a job.

Some of the former musicians started an online fundraising campaign on GoFundMe to try to bring the organization back to life. It currently sits at more than $495,200.

What’s next?

Former musicians from the symphony started their own group during the turmoil, K-W Symphony Musicians Orchestra.

The group is planning two concerts at St. Matthews Lutheran Church in Kitchener to finish out the year.

The first concert, On Remembrance and Hope, is coming up on Nov. 16 at 7:30 p.m.

The second concert, KWS Holiday Celebration, will happen on Dec. 20 at 7:30 p.m.

Poole made it clear that these two concerts are funded by the musicians themselves with proceeds fundraising efforts.

“So post January, once we get to January 2025 and beyond, then what happens from there will be kind of the symphony offerings, still to be determined,” said Poole.

Previously, the symphony called the Centre in the Square home for more than 40 years. It is not clear if the symphony will be returning to their previous venue at this time.

In the meantime, the symphony is still collecting donations online to fund concerts and create a structure for the future.