Canadian circus giant “Cirque du Soleil” is said to be considering its options after cancelling all 44 of its shows world wide and laying off 4,700 employees.

A spokesperson says the Montreal-based company is working with its partners, as well as the Federal and provincial governments, to determine how best to return to activities once the pandemic is under control.

It’s estimated that Cirque du Soleil is carrying some $900-million dollars in debt.

Credit rating agency Moody’s has lowered the company’s rating and says there is a high risk of default by year’s end.