Posted: Oct 18, 2010 4:26 PM by AP
Updated: Oct 18, 2010 4:32 PM
GARDEN GROVE, Calif. (AP) - Crystal Cathedral has filed for bankruptcy in Southern California after months of trying to overcome mounting debt.
The megachurch, birthplace of the "Hour of Power"
televangelist broadcast, announced its filing Monday as it deals with a $55 million debt.
The Orange County-based church, founded in the mid-1950s by the Rev. Robert H. Schuller, earlier this year ordered major layoffs. It also cut the number of stations airing the "Hour of Power" and sold property to stay afloat.
In addition, the 10,000-member church canceled this year's "Glory of Easter" pageant, which attracts thousands of visitors and is a regional holiday staple.