Galaxy Studios Reopens Under New Ownership After Bankruptcy
Music studio Galaxy Studios, which declared bankruptcy at the end of 2023, has been acquired by a group of local investors. The studio, located in Antwerp province, was forced to close following the pandemic, resulting in the loss of 10 jobs. Founded in 1982, Galaxy Studios accumulated debts of 8 million euros before its closure. It is set to reopen for business on Wednesday under the name Galaxy World, reports 24brussels.
The original founders, Wilfried and Guy Van Baelen, started the business in the backyard of their parents’ home in Mol. Over the years, the studio shifted its focus towards the film sector, earning the nickname “Mollywood.”
Galaxy Studios hosted numerous notable artists, including Clouseau, dEUS, Will Tura, Rammstein, Mary J Blige, conductor Dirk Brossé, and the Brussels Philharmonic.
Wim Buyens, the new head of the music complex, stated, “Technically and acoustically, the studio in Mol is unrivalled. That’s why we see this as an international project.”
The identities of the investors backing the relaunch remain largely undisclosed, as does the total amount of money invested. Buyens noted, “In the long term, we definitely want to facilitate music artists in our country. But we are also looking at the film and gaming world, where sound is really fundamental.”
Galaxy Studios’ revival comes at a time when the creative sector plays a crucial role in the economy, signaling a positive shift in the industry following recent hardships.
