Kulturhaus at the end of Europaallee reports that the balance sheet has been submitted to the bankruptcy court. All of a sudden, Zurich was down to six beautiful, state-of-the-art cinemas.
Unfortunately, COSMOS has remained only a vision without sustainable feasibility. The business will remain closed with immediate effect. Today Kosmos-Kultur AG submitted the balance sheet to the Bankruptcy Court.
This is stated on the website of the cinema “Cosmos” in Zurich. The new board of directors, which only began work in September 2022, concluded three months later that the company could no longer be funded in a sustainable manner. Operations can no longer be supported.
“The Board of Directors considers the business concept insufficient, the costs of ongoing operations too high, and the debt burden too unsustainable,” the statement said.
All performances and events, including those already booked, including first week screenings Avatar: Water Water – cannot take place.
As the NZZ article says, the movie isn’t the problem. According to board member Valentin Diem, its results are now even above average in comparison with other countries. “This home could certainly be operated economically, but not in the oversized, labor-intensive manner that it used to be.”
With the closure, Zurich will lose six cinemas, including one with state-of-the-art Dolby Atmos sound system. Huge loss.
Source: Outnow
I am Harvey Rodriguez, an experienced news reporter and author with 24 News Reporters. My main areas of expertise are in entertainment and media. I have a passion for uncovering stories about the people behind the scenes that bring the entertainment world to life. I take pride in providing my readers with timely and accurate information on all aspects of the entertainment industry.