Last act for "Das Werk"
- Prestigious German post-production house goes bankrupt with debts standing at Euros 113 million
One of the most important European post-production companies, Das Werk, based in Frankfurt, has filed for bankruptcy. Its most prominent clients were Wim Wenders (Million Dollar Hotel), Pedro Almodovar (Hable Con Ella),Roman Polanski (The Pianist) and Ken Loach (Sweet 16).
The company had been following an expansionistic policy, that included buying companies and shares all over the world. In 1999 Das Werk merged with Wim Wender’s Road Movies Group, in 2000 it acquired the Spanish En-Effecto Group, followed in 2001 by Roland Emmerich’s American special effects company CFX. But just as the company was gaining prestige it was loosing advertising revenue, the main source of income for all post-production companies. This strategy led to debts of around Euros113 milion.
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