VANCOUVER (Reuters) – Vancouver’s Art Museum said on Wednesday it had reached $1.8 million in unpaid debt and will seek legal assistance in the matter, a week after it was forced to declare bankruptcy.
Art Gallery Victoria said it had been in debt for several years and owed the U.S. government more than $10 million, including an interest-free loan that the gallery owes to the U,S.
The gallery, which was founded in 1865 and has the largest collection of works of art in the world, has a debt of $1 million, it said in a statement.
Vancouver, Canada, is a city of more than one million people that is famous for its art.
It is the largest city in British Columbia and the second-largest city in Canada, after Toronto.