Crystal Cathedral files for bankruptcy

The mega-church founded by evangelist Robert H. Schuller owes about $7.5 million to unsecured creditors. From the OC Register:

The Cathedral, which has been a landmark and a tourist attraction with its glistening glass tower, is now faced with $55 million in debt because of the economy and dwindling contributions. The church's budget woes have forced it to downsize its staff, cancel programming in certain markets, and even send home choir and orchestra members. A committee of creditors who were working with the church for the last six months declared an impasse, foreshadowing the bankruptcy. Church board member and Schuller's son-in-law, Jim Penner, said Friday that the cathedral's intention is to repay all vendors 100 percent.

Among the vendors still waiting to get paid are Oliver, who supplies camels, horses and sheep for the "Glory of Christmas" pageant. Senior Pastor Sheila Schuller Coleman said that services and programs at the church will continue, including the "Hour of Power" television program.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
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