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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel Crystal Cathedral Files for Bankruptcy Use Article Email Facebook Digg Twitter Buzz Up! Share October 19, 2010 12:28 p.m. EST Topics: christianity, company information, bankruptcy, religion and belief, business, economy, business and finance, protestant, United States Ayinde O. Chase - AHN News Editor Garden Grove, CA, United States (AHN) - Landmark California megachurch Crystal Cathedral has filed for Chapter 11 bankruptcy. The Orange County church where “Hour of Power is taped made the announcement Monday. The beleaguered church first laid off 150 personnel, cut back on programming, and then replaced its world class choir with volunteers. However, it was the recent move by creditors to sue the church for payments that would have virtually wiped out the church’s bank accounts that prompted the bankruptcy filing. “Budgets could not be cut fast enough to keep up with the unprecedented rapid decline in revenue due to the recession,” Sheila Schuller Coleman, the church’s senior pastor, said in a statement. According to church officials, ministry outreach and programs including the weekly broadcast are slated to continue. However the church has reduced the number of stations that it pays to broadcast the program. The church, which has been ministering for 55 years, is nearly $50 million in debt. Founded in a drive-in theater, the church moved to a gigantic glass building in 2006 that seats nearly 3,000. The sparking structure is poised on a 40-acre campus in Garden Grove. 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