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Wednesday, May 25, 2022

Crystal Cathedral Ministries Files for Bankruptcy

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Garden Grove’s Crystal Cathedral Ministries filed for bankruptcy protection on Monday, listing debts of $50 million to $100 million.

The megachurch, founded by television evangelist Robert Schuller, filed for Chapter 11 reorganization in the Santa Ana division of bankruptcy court.

The petition shows the church having less than 1,000 creditors, and says that Crystal Cathedral Ministries has as much as $100 million in assets.

The church, known for its “Hour of Power” television show, cited the economy and dwindling contributions as the reasons behind the filing.

“Budgets could not be cut fast enough to keep up with the unprecedented rapid decline in revenue due to the recession,” Senior Pastor Sheila Schuller Coleman said in a statement.

Schuller Coleman is the daughter of Robert Schuller, who retired this year as principal pastor of the Crystal Cathedral and is chairman of the church’s board.

Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.

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