In spite of an Oscar-winning feature, Susanne Bier’s In a Better World (Hævnen), and a local blockbuster, Mikkel Nørgaard’s Clown (Klovn The Movie), Danish production outfit, Zentropa Entertainments, posted a $3.4 million (DKK 17.1 million) deficit in 2010.
In the red for the third consecutive year, Zentropa Folket – the concern of the complicated structure including 70 different companies – registered a net capital reduced to $8.4 million (DK 43 million), with short-term debts reaching $19.6 million (DKK 100 million).
Managing director Peter Aalbæk Jensen would not exclude layoffs – ”something has to be done,” he told local press, adding that he would shortly issue a statement. ”But we don’t have the money to develop new talent; we will have to count on our ’safe’ directors.”
Started in 1992 by Aalbæk Jensen and Lars von Trier, Zentropa was in 2009 partly sold to Danish major, Nordisk Film – a part of the Egmont media concern – which became a 50/50 part-owner. In a 2009 savings packet, 20 of the company’s 70 employées were made redundant.