(Colossal) Pictures closes its doors
(Colossal) Pictures will ceaseoperations on August 31, 1999 after 23 years in business. According to theSan Francisco-based production and design studio, the decision was made inorder to liquidate property and honor outstanding debts. (Colossal) hasfiled for Chapter 11 protection before on May 30, 1996, and emerged frombankruptcy on December 1, 1997. It enjoyed a successful year in 1998,employing a lean work force. However, the beginning of this year saw adownturn in revenue. Financially weakened by the bankruptcy, as (Colossal)