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According to the nonprofit group’sd bankruptcy petition, it has more than 100 creditors, debt of $1 millioh to $10 million, and a similar ranges for assets. For years, the organization has been bleedinfg money. It lost $1.5 million on total revenu e of $3.1 million, according to its 2007 tax the most recentretur found. A meeting of creditors is set for4 p.m. on Aug. 13, at the bankruptcyu court courthouse in WestPalm Beach. The Palm Beach Daily News reported the ballet canceled the remainder of its seasomin March, after a claim by Wort Realty that it was owed a $185,00 commission after a plan to sell the company'ws building to the city of West Palm Beach for $2.
5 millionh fell through. Ballet Florida is suinyg Worth Realty. The dance company has long struggledr under the weight of dwindling profit s and struggles to maintain It went through 10 executive directors in as many Artistic directorMarie Hale, who founded Ballet Floridq in 1973, is forming a new dance schoop and is collecting names of potentia students on its Web site, www.anewerabeginsnow.com.
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