Operation is too expensive

Victims of the Signa bankruptcy: end for BA Kunstforum

Soon to be a thing of the past? The Kunstforum on Vienna's Freyung.

(Bild: Wikipedia/Gryffindor (CC BY 2.5))

UniCredit Bank Austria is reorganizing its cultural sponsorship against the backdrop of the Signa insolvency. The Kunstforum is no longer involved. The changed economic conditions had made "a reorganization necessary". If possible, exhibition operations are to continue until the summer break in 2025.

René Benko's financial problems are apparently also dragging the Kunstforum into the abyss. The exhibition institution on Freyung resides in a palace owned by the insolvent Signa Prime.

Operation not possible for financial reasons
But, as UniCredit Bank Austria let the "Krone" know: "Signa was not only the landlord of the location, but also the most important partner and largest sponsor of the Kunstforum for many years. The consequences of the loss of Signa's sponsorship mean that the Kunstforum cannot continue to operate for economic reasons. In addition, high investments are necessary for future-oriented continued operation, which are not feasible under the current conditions."

The rental agreement for the Kunstforum was only ever concluded for one year. Bank Austria has made "great efforts in recent weeks to reach an agreement with the landlord on a long-term lease for the Kunstforum. To our great regret, this is now no longer possible due to the changed framework conditions."

High additional investments are necessary for future-oriented continued operation, which are not feasible under the current conditions.

UniCredit Bank Austria

As a consequence, UniCredit Bank Austria has decided to "reorganize its sponsorship activities and expand its support for Vienna's cultural scene".

Kunstforum Board prepares petition
The Kunstforum Board, which includes members such as Heinz Fischer, Helga Rabl-Stadler, Erwin Pröll and Anton Zeilinger, is preparing a petition to Federal President Alexander Van der Bellen. He should advocate that Bank Austria should continue to operate the Kunstforum. Or at least allow a transitional period to find other operators so that the cultural institution can continue to operate.

According to a Bank Austria spokesperson on Monday, the exhibitions should continue to run until the summer break in 2025 if possible. However, this also depends on the future owner and landlord of the building, as it is expected to be sold in the near future.

In 170 exhibitions, the institution has introduced international and Austrian artists to over eight million visitors. The Gauguin exhibition runs until January 19. After that, we will see whether the exhibitions on Anton Corbijn and Marina Abramović in October will have to be canceled.