The Philadelphia Orchestra is planning steps toward financial harmony in the wake of a bankruptcy filing that stunned the music world and saddened its fans and players.
A federal bankruptcy judge has scheduled a series of hearings in the coming months as orchestra officials compose a recovery plan without canceling the concert season.
Orchestra officials say declaring bankruptcy was a tough decision but it's a means to a greater end.
The esteemed symphony on April 16 became the first major U.S. orchestra to seek Chapter 11 bankruptcy protection. It is struggling with dwindling attendance and increasing pension and rental costs.
Some musicians say management could have done more to get the orchestra back on its feet before filing for bankruptcy.