The Associated Press April 16, 2011, 5:49PM ET

Philadelphia Orchestra board OKs Chapter 11 filing

The world-renowned Philadelphia Orchestra will be filing for Chapter 11 bankruptcy protection.

Orchestra board chairman Richard Worley says the decision was made after an emotional meeting of the board Saturday. Officials say they'll make the filing in a federal bankruptcy court in Philadelphia.

Worley says the orchestra is running low on cash and has been running a deficit. But officials say concerts and business operations will continue, and a fundraising campaign is planned to try to save the 111-year-old orchestra, traditionally considered one of the best in the nation.

Orchestra musicians who object to a bankruptcy filing distributed leaflets to the audience before Thursday night's concert.

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