HONOLULU -- The Honolulu Symphony Society Board of Directors announced on Friday that it has decided to file for Chapter 11 bankruptcy.

The announcement comes after more than a week of uncertainty. The chairman of the Honolulu Symphony's board of directors told KITV, that as of last week the symphony did not have enough money to make its payroll.

The city stopped selling tickets to the symphony's November events on Thursday because of rumors that the orchestra would cancel those concerts. The symphony said it will not be able to complete the rest of the season in 2009. It is uncertain if it will be able to complete other dates in 2010.

The board said that it voted on Oct. 30 to file for Chapter 11 bankruptcy and that it is $1 million in debt.

“Given its current and projected financial status, the society cannot continue to sustain a 64-piece orchestra,” Honolulu Symphony Society Executive Director Majken Mechling said in a written statement. “We cannot continue with business as usual.”

The musicians' union president Brien Matson had been waiting for a call back from Honolulu Symphony officials for one week to learn about the future of the 110-year-old organization.

"Even now, political leaders, citizens, corporations and foundations in this State have an opportunity to step in and become more involved with the future of their orchestra. It is a 'moment of truth' for Hawaii in terms of its actual cultural commitment," Honolulu Symphony Society Chairman Peter Shaindlin said in a written statement.