Belga Films, the oldest independent distributor in Belgium, has gone bankrupt.
The company is reported to have filed for bankruptcy last week, with the news emerging in local press yesterday (February 17).
“Everybody is completely in shock because no one saw it coming,” said one source close to the company. “It’s a massacre. It’s a big loss for Belgian distribution.”
Belga’s Dutch subsidiary Independent Films will continue to keep trading.
Production activities at Belga Studios will also continue, and Patrick Vandenbosch, Belga’s CEO, has consolidated his partnership there with Brussels-based producer and financier Umedia. According to one source, they are now looking to run it on a 50-50 basis.
One cause of Belga’s…