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O.C.'s Crystal Cathedral files for bankruptcy

October 18, 2010 12:00:00 AM PDT
The Crystal Cathedral "megachurch" in Garden Grove filed for bankruptcy Monday after months of trying to overcome mounting debt.The church has $55 million worth of debt. Approximately $7.5 million is owed to various vendors for services rendered, including advertising, according to a church spokesman. Several vendors filed lawsuits against the church.

The church has about 10,000 members. It was founded in the 1950s by Robert Schuller. Later the church began the "Hour of Power" televangelist broadcast. The church's iconic worship hall was opened in 1970.

The church has ordered layoffs, sold property and reduced the number of stations broadcasting the "Hour of Power."

The economic recession is the cause of the financial problems, according to the church.