The Kitchener-Waterloo Symphony has filed for bankruptcy, the organization announced in a Thursday afternoon social media post.

In addition, the group’s entire board of directors has resigned, meaning the operation will “cease all operations” as of Thursday and will not return for any future seasons.

“We are all devastated at the closure of our Symphony,” the social media post reads. “This is not the outcome anyone wanted to see after 78 glorious seasons of music.”

The disappointing announcement follows abrupt communications from the organization earlier this month saying the symphony would cancel its upcoming season unless it raised two million dollars.

Fundraisers have been set up to support the musicians in the aftermath of the symphony’s closure.

This is a developing story. More to come.