After several years of financial difficulty, the Boston Classical Orchestra (BCO), 34, filed for bankruptcy and canceled what remains of their 2015-16 concert season.

In a statement, board chairman Ronald Arky explained the decision:

“Ticket revenues and contributions, which we derive our operating budget from, have declined steadily over the past few years as demand for our concerts has declined. It is only thanks to the dedication of loyal subscribers and donors that we have succeeded in continuing our mission in the current year. It is therefore with great sadness that I announce the cancellation of our 2015-2016 concert season and the dissolution of the non-profit organization. The concerts initially scheduled for March 6 and April 17 at Faneuil Hall will no longer take place.

“As part of our struggle to continue producing our concerts, we launched an emergency appeal during the winter of 2014 to end the 2013-2014 season. We then reduced the number of annual concerts from ten to five for the following 2014-2015 season to help stretch our limited resources. More recently, after the November concert, we made an emergency appeal to our audience and donors, who unfortunately only raised a fraction of the funds we were looking for in order to complete the last two concerts of the current 2015-2016 season. . “

Arky went on to write that the board voted in favor of filing for bankruptcy effective February 3.

“The fact that this decline follows unfortunate national, regional and local trends in attendance and contributions to the arts is no consolation for the difficult message I am sending today,” he also said, continuing. : “We recognize BCO subscribers and donors. who have supported this concert season, and instructions regarding the claims will be provided to them in connection with the administration of the bankruptcy estate. We also inform the community and our subscribers and donors that the nonprofit Boston Classical Orchestra is not affiliated with any individual, group or organization that may present or contact them about the concerts from March 6 and April 17 to Faneuil Hall or the use of BCO. – tickets issued.

The President also thanked the musicians, subscribers and donors of BCO for their loyal support.

But with the gesture of the “Phoenix reborn from its ashes”, many former musicians hope to bring the spirit of the BCO to life by creating a new professional orchestra. Steven Lipsett, BCO’s music director for 20 years, said they’ve formed a new nonprofit called Bach, Beethoven and Brahms Society of Boston (BB&B).

They plan to give five concerts in 2016-2017 and hope to “save” the programs formerly planned by the BCO for March and April.

In an email, Lipsett wrote: “BB&B will deepen our commitment to music education, particularly in underserved areas of Boston, and may even expand to include concerts or recitals in other venues; but our central mission will be to play the music you love, with the musicians you love, in the Faneuil Hall that you love. (And next season subscribers will get free seat cushions …) ”