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सोमवार, अक्तूबर 18, 2010

Crystal Cathedral Files for Bankruptcy

Crystal Cathedral, the landmark megachurch in Orange County, Calif., where the “Hour of Power” is taped, filed for bankruptcy protection, church officials announced Monday.

Crystal Cathedral’s leadership announced the sale of unused property and the layoffs of 50 employees in January to cushion a 27 percent drop in revenue since 2008. The church also canceled this year’s “Glory of Easter” pageant, a holiday staple here.

Earlier this year, the megachurch founded by television evangelist Robert H. Schuller slashed several programs and laid off 50 employees to cut $4.9 million from its $20 million annual operating budget. The Register reports that Senior Pastor Sheila Schuller Coleman said the bankruptcy filing was a necessity because of lawsuits.

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