Crystal Cathedral to be sold as a way to exit Chapter 11 bankruptcy
The Crystal Cathedral, the gleaming architectural landmark in Orange County that has been a Southern California attraction for decades, will be sold as a method of exiting Chapter 11 bankruptcy and reconciling millions in debt, church officials confirmed Thursday.
A reorganization plan could be filed in a Santa Ana court as early as Friday.
The Garden Grove megachurch, founded by Robert H. Schuller, was also the birthplace of the enormously popular weekly televangelist series "Hour of Power." But faced with decreasing revenues over the last few years, the church filed for bankruptcy protection in October, saying it owed more than $50 million to creditors, including vendors who assisted in the church's famed Christmas and Easter services....
