The Syracuse Symphony Orchestra (SSO) voted early this week to shut down and file a chapter 7 bankruptcy, according to the Syracuse Post-Standard (article April 5, author Melinda Johnson.) The company terminated its season - its 50th anniversary season - early, with twenty concerts remaining. The Rochester Philharmonic Orchestra announced that it will honor SSO tickets at selected concerts this Spring.
SSO has $5.5 million in liabilities, including a $2.5 million unfunded pension liability for its musicians. After SSO files Chapter 7, the Pension Benefit Guaranty Corp. will take over the pension liability, according to the Post-Standard.