PHILADELPHIA (KYW Newsradio) — World Cafe Live has filed for bankruptcy.
Although the Chapter 11 petition says the University City venue is unable to pay its debts, gigs will still go on.
World Cafe Live CEO J. Sean Diaz told the Philadelphia Business Journal that the concert hall plans to remain open during bankruptcy proceedings. He said the move will stabilize its finances and attract new investment.
World Cafe Live faced a stop-work order on Wednesday for what the city called “serious tax violations.”
A bankruptcy filing can delay enforcement.