(The accompanying video is background information from a report done early September)
Capital Pride board of directors says it will be declaring bankruptcy after 29 years of operation.
Shortly after end of summer festivities there were several complaints from contractors, performers and DJs about being owed tens of thousands of dollars.
Here is the statement released on their Facebook page:
“October 20, 2014
For Immediate Release
The following is a statement from the Capital Pride Board of Directors:
"It is with extreme sadness and regret that Capital Pride must inform its membership, stakeholders and community, that after 29 years of operation, the Board of Directors has found itself in a financial situation beyond its ability to alter or repair and is now forced to declare bankruptcy.
The Board of Directors has been working very hard for the last two months to find a viable solution to enable Capital Pride to continue its operations for the sake of the Pride movement, the LGBTQ community and Ottawa residents, but with no success. Operations are now clearly unsustainable.
Capital Pride has had the privilege of working with many dedicated and supportive volunteers, organizations and individuals who worked exhausting hours in order to see the vision of Pride movement be elevated in Ottawa and we have seen some great moments throughout our history.
The AGM will happen as scheduled on November 5th. An email will be sent to our stakeholders shortly with a revised agenda so that everyone will know what to expect from that meeting. Much of the focus will be on the future of the Pride movement in Ottawa, going into it's 30th year and beyond.
If you have any questions or concerns, please send an email to the Chair – chair@capitalpride.ca. We are happy to answer any questions or concerns that we are able to, though we apologize in advance for not being able to answer them all. We are in the midst of legal proceedings that prevent us from doing so.
Thank you for your support and understanding during this very difficult time."
