Schermerhorn, creditors reach deal to save symphony - WKRN News 2

Schermerhorn, creditors reach deal to save symphony


The Nashville Symphony will continue to play as the Schermerhorn Symphony Center reached a deal with its creditors on Friday.

The deal will help restructure the non-profit organization's debt.

Bank of America plans on forgiving and writing off a significant portion of that debt while the symphony works on restructuring their operations in exchange for new lending terms.

Private talks went public months ago, but supporters remained optimistic.

"I am an attorney by trade, and I felt negotiations would work themselves out at the last minute. That is sort of the way things work themselves out with debt and that sort of nasty business," said Mark Lee, a symphony supporter.

"It just brings an entirely different venue. It's not just the usual concerts that you go to. It's a different venue and it's just beautiful," said Susan Lee, another supporter.

Officials say they will make an announcement soon.

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