Gloria Theater in Vienna: bankruptcy after the death of the partner!

Gloria Theater in Vienna: bankruptcy after the death of the partner!

The legendary Gloria Theater in Vienna is on the end: A bankruptcy proceedings were opened at the commercial court, as the Creditreform Credit Protection Association confirmed on Tuesday. This dramatic turn is partly due to the death of the managing sole shareholder Gerald Pichowetz in June. The shock message shaken the theater landscape in Vienna because the activities of the theater were stopped after his death and a liquidation has been decided, which seals the end of this institution.

With currently 14 employees, the Gloria Theater is fighting enormous financial difficulties: the assets amount to around 200,000 euros, while the liabilities are 575,000 euros. In the current situation, a renovation, as the association clarifies, is no longer conceivable. By February 11, 2025, creditors have time to register their demands on creditre reform, which underlines the urgency and seriousness of the situation. In view of these developments, the fate of another important theater in Vienna is once again the serious question for the cultural world, as already Kurier.at reported .

Financial disaster and effects

The bankruptcy of the Gloria Theater, which was founded in 2001, reveals the challenges that affect many cultural institutions in today's world. Gerald Pichowetz's death not only destabilized the management of the theater, but also hit the basis of the company. Like Wien-eroeffnet"> Kleinezeitung.at found the circumstances that the theater can no longer be resisted, which can no longer be resistant to a tragic end for a cultural institution represent.