The historic Rimini venue, famous for its pyramid glass roof, was recently declared bankrupt.
Opened in 1989, the historic venue was declared bankrupt on June 4th by a local court, which acted at the request of Italy's inland revenue. According to The Huffington Post, Cocoricò owes more than €800,000 in unpaid taxes. The first bankruptcy hearing will be held on October 25th.
Cocoricò's financial problems partly stem from the high-profile death of Lamberto Lucaccioni, a 16-year-old raver who died after taking ecstasy at the club in the summer of 2015. The club was subsequently closed for four months during peak season, which damaged its reputation and sent it into a spiral of debt.
At its peak, Cocoricò, which originally opened as a restaurant, was one of the most popular clubs in Europe, famous for its pyramid glass roof. In the past 30 years, it has hosted everyone from Carl Cox, Magda and Richie Hawtin to Fatboy Slim and The Chemical Brothers.
Resident Advisor has reached out to Cocoricó for comment.