Opera Australia might have to sell off some major properties to manage financial difficulties that it will face due to the COVID-19 crisis.

According to The Sydney Morning Herald, the company might be faced with selling off one or both of its properties in Surry Hills and Alexandria to avoid bankruptcy. The option seems “fairly likely,” per a comment in the rerport from Chief Executive Rory Jeffes.

This news comes on the heels of the company canceling the rest of its season, and especially its highly anticipated production of “La Traviata” at Sydney Harbour.

“We spent the weekend with legal advisers, financial advisers, etcetera, arriving at the point where I was able to tell the board yesterday, we believed we are still solvent and that we can continue to trade. It was as serious as that,” said Jeffes.

The Sydney Harbour production is a major attraction for the company with its first showcase of “La Traviata” in 2012 drawing in over 40,000 people. Last year’s production of “West Side Story” brought in 65,000 and according to the company, the series has generated over $66 million since 2012.