Met Museum braces for $100m loss due to coronavirus pandemic

Museum looking to reopen in July

The Met Museum closed in New York City on 13 March. (Cindy Ord/Getty Images)

The Met Museum is reportedly bracing for $100m in losses due to the coronavirus outbreak.

The museum had to close its three locations in New York City on 13 March in order to limit the spread of the virus.

According to The New York Times, a letter sent to department heads on Wednesday projects $100m in losses.

The museum is therefore anticipating potential layoffs, voluntary retirements, and furloughs, the publication reported.

It’s also looking at reopening from July to October with “a reduced program and lower cost structure that anticipates lower attendance for at least the next year due to reduced global and domestic tourism and spending”.

The Independent has contacted the Met Museum for more information.

The museum operates thanks to a budget of more than $320m, according to its own website.

It’s one of many facilities that have had to shut down due to the pandemic, which has also triggered the postponement of major events such as the French Open and the Kentucky Derby.

The Met Gala, which was supposed to take place at the museum on 4 May, has been postponed indefinitely.