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Just for Laughs Has Filed for Bankruptcy Protection
The company has canceled its 2024 comedy festival in the hopes it can restructure in time to return in 2025.
The storied Montréal comedy institution that, each year, awards the coveted distinction of “New Faces” to a crop of comedians on the rise, has canceled its 2024 festival, citing financial factors. “The pandemic was followed by the inflationary times we continue to experience, meaning our cost structure increased appreciably, exerting unprecedented financial strains on the organization,” the company said in a statement. This news comes as Just for Laughs was in the process of trying to restore its reputation after its founder, Gilbert Rozon, stepped down from his leadership position in 2017 due to multiple allegations of sexual assault.
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