Avant Gardner LLC took the drastic step after it faced ongoing financial snags and failed to reopen the prized East Williamsburg open-air concert hall in time for its 2025 season.

Avant Gardner has filed for bankruptcy after “several months of financial distress,” culminating with the failed reopening of the new Brooklyn Mirage.

Avant Gardner’s bankruptcy filing outlines a plan to borrow up to $45 million to help keep the business running while it goes through bankruptcy, including $20 million to address existing debts. Juergen “Billy” Bildstein, who co-founded Avant Gardner, owns 100% of the company, according to court filings.