The New York City Opera filed for chapter 11 bankruptcy Thursday . `` The People 's Opera '' was founded on the idea that every New Yorker should have access . For the company to break even , all tickets would have to cost $ 600 each , its GM says . It has been a struggle from day one and it is still not profitable.
The New York City Opera filed for chapter 11 bankruptcy Thursday . `` The People 's Opera '' was founded on the idea that every New Yorker should have access . For the company to break even , all tickets would have to cost $ 600 each , its GM says . The company `` did not achieve the goal of its emergency appeal , '' a statement says .