The John F Kennedy Memorial Center for the Performing Arts is on the brink of financial collapse. -AP
Leaders of the John F Kennedy Center for the Performing Arts say it's on the brink of bankruptcy and could close within a day.
Hold tight - we’re checking permissions before loading more content
The leaders, installed by US President Donald Trump, argue that putting the president's name on its facade may be the only way to avoid imminent and "certain fiscal collapse", according to the Washington Post, citing documents it obtained.
A report, prepared by the institution's trustees, claims that within a few weeks the institution won't be able to pay employees or meet maintenance costs, the paper said.
The report was prepared in advance of a meeting scheduled for Tuesday.
The Post also said that Trump would help the Kennedy Center if his involvement was acknowledged.
The trustees' report represents "a remarkable new phase in Trump's takeover of the Kennedy Center, which has been engulfed by financial turmoil, leadership upheaval and litigation since he installed himself as chairman last year", the paper said.
The Post also noted that Trump's involvement with the Kennedy Center, which included the addition of his name to the building, impaired fundraising work and ticket sales.
The Kennedy Center did not immediately respond to a request for comment.
14°C