Brooklyn Mirage Owner Avant Gardner Files For Bankruptcy

Avant Gardner, the massive Brooklyn entertainment complex best known for housing the Brooklyn Mirage, has officially filed for Chapter 11 bankruptcy. The move follows months of turmoil for the high-profile venue, which has remained closed since spring despite initially being scheduled to reopen for the 2024 season.

Bloomberg first broke the news, reporting that AGDP Holding, the parent company of Avant Gardner LLC, has filed for bankruptcy protection in Delaware with approximately $155.3 million in funded debt obligations. According to court filings, the company is facing a “significant liquidity crisis” after a wave of postponed, cancelled, and relocated events gutted revenue. Some shows were moved to Avant Gardner’s indoor spaces — the Great Hall and Kings Hall — but the closure of the Brooklyn Mirage dealt a major financial blow.

Current CEO Gary Richards — also known in the music world as DJ Destructo — took over leadership two months ago after the ousting of former CEO Josh Wyatt. In court documents dated August 4, Richards cited “increasingly aggressive collection activities” from certain financiers and contractors. The company had entered into financing agreements earlier this year to fund renovations, but those deals have now become the subject of legal disputes.

In its first public statement since May, Avant Gardner confirmed the bankruptcy filing and attempted to reassure fans: “Avant Gardner’s Great Hall and Kings Hall event venues are to remain open and operating as usual during the Chapter 11 process, continuing to serve the vibrant community of artists and fans that have made Avant Gardner a world class performance destination.”

Richards added: “The Avant Gardner event complex is a truly special music venue that has provided cutting edge experiences over the years for artists and fans from all around the globe. Everyone I speak to has had the best sets and very special memories at the Brooklyn Mirage. Two months ago I was brought in as CEO to rebuild the Company’s culture and turn the business around. I believe this Chapter 11 restructuring is the most viable path forward – it will allow us to stabilize Avant Gardner and focus on building for the future.”

Months of Financial Strain and Uncertainty

Rumors about Avant Gardner’s financial troubles had been swirling for weeks. In July, Brooklyn Mag reported that Richards was actively seeking a buyer for the venue as it was “bleeding money.” An anonymous employee warned that without a sale, bankruptcy was inevitable, claiming that some staff members were missing months of back pay and holiday incentive wages.

“The company is so broke that certain employees are missing months of back pay and they’re not paying any holiday incentive wages,” the source said. “As far as speculation goes from me, this summer is a wash.”

Artists and promoters have also been caught in the fallout. On July 31, DJ Nora En Pure announced the cancellation of her August 22 Brooklyn Mirage show, telling fans: “As many of you know, Brooklyn Mirage won’t be opening this summer.”

One anonymous Avant Gardner employee told Brooklyn Mag that “things are honestly way worse than people realize,” adding that it’s “very likely” the Brooklyn Mirage won’t reopen next year either. The Department of Buildings’ website currently lists the venue’s Temporary Place of Assembly Certificate of Operation application as moved to June 1, 2026 — a clear sign that Mirage’s 2024 season is over and possibly a sign of a much longer closure.

What’s Next for Avant Gardner and the Brooklyn Mirage?

For now, the Great Hall and Kings Hall remain operational, and Richards says the restructuring will give Avant Gardner a chance to regroup and rebuild. But the future of the Brooklyn Mirage — once considered one of the premier large-scale music venues in New York City — remains deeply uncertain.

Whether a buyer steps in, a restructuring plan succeeds, or the venue remains shuttered for multiple seasons will determine not just the fate of Avant Gardner, but also the future of large-scale dance and electronic music events in New York City.