No More Magnifico

Munich-based liquidator Pohlmann Hofmann appears to have given up trying to sell horse show spectacular “Magnifico” as a going concern and the city court has blocked the disposal of its assets because it wouldn’t raise enough to cover the cost of the sale.

It leaves an estimated 30,000 ticket-holders with no chance of seeing the show or getting their money back, while the production’s other creditors appear to have no chance of being repaid.

Magnifico Circus GmbH & Co., the company behind the production, filed for insolvency at the district court in Munich July 19, prompting a war of words between promoter Marcel Avram and show producer André Heller.

On Oct. 1 the same court said a sale of the company’s assets wouldn’t be of any financial benefit to its creditors because there are far too many of them.

Shortly after Magnifico filed for insolvency Heller, whose earlier shows include the global success “Afrika! Afrika!,” told German media it was Avram’s project and his fault it folded.

Avram, who claims his involvement with “Magnifico” was limited to advising the show’s investors, has rebutted the accusation and says Heller “always puts the blame on others whenever one of his many shows fails.”

He said Heller had a budget of euro 5.5 million for the production of the show but ended up spending euro 11 million, and also revealed that the well-reviewed debut run in Munich sold only 57,000 of its 136,000 tickets.

“No wonder that all investors involved then went crazy,” Avram told Pollstar.

Pohlmann Hofmann’s office is now referring Magnifico inquiries directly to Avram’s United Promoters, which so far hasn’t responded to requests for a comment.