Crystal Cathedral, the California megachurch founded by televangelist Robert Schuller, filed for Chapter 11 bankruptcy Monday, the Orange Country Register reported.
The church, affiliated with the Reformed Church in America, owes about $7.5 million to unsecured creditors. The bankruptcy filing seeks court protection from its creditors.
The Orange County, Calif. based congregation oversees several costly ministries including the "Hour of Power" TV program and legendary pageants "Glory of Easter'' and the "Glory of Christmas."
In response to its massive $55 million debt, the church has laid off 140 staff, dropped its TV broadcasts in certain markets and canceled its Easter pageant.
Senior pastor Dr. Sheila Schuller Coleman -- the founder's daughter -- said in the statement that she was optimistic the church would come out of these trying times.
She and the ministry was experiencing its best cash flow in 10 years.
The church, designed by architect Philip Johnson and constructed using 10,000 rectangular panes of glass, is a southern California architectural landmark and a noted tourist attraction.
Construction of the cathedral, which seats more than 2700 people, began in 1977 and was completed in 1980, at an estimated cost of $18 million.
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