German musicals co. broke, seeking buyer

Stella shutting down, investors put offers on table

BERLIN — Following tough times in the German musicals market, Stella, the Hamburg-based musicals operator, will be sold.

Five investors have put in offers for the company, with a final decision expected to be made this month.

In November, 1998, Stella applied for insolvency.

Despite reducing losses to DM60 million ($31.6 million) last year following a $54 million loss in 1998, Stella was expecting negative results for this year even after cost-cutting measures.

Last year, the company shut down three of its musicals including “Miss Saigon” and “Les Miserables.”

Stella was banking on Disney’s “The Hunchback of Notre Dame” to level out business. Since its launch in July, the musical has sold 329,000 tickets for the 1,600-seat theater on Potsdamer Platz, according to reports.

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