Mon, 24 Feb 2025

Mon, 24 Feb 2025 Historic visual effects studio Technicolor collapses in UK

The company's UK entity has filed for administration, with 'the majority' of its UK staff made redundant.

* Technicolor's UK business has been placed into administration, affecting over 440 employees.
* The company, which owns several leading visual effects studios, including MPC and Mikros Animation, was unable to find a buyer.
* The administrators have made redundancies, but it is unclear what the total impact on jobs will be due to the use of fixed-term contracts.
* The collapse is attributed to "economic headwinds" affecting the creative industries, exacerbated by post-covid recovery and the US writers' strike.
* The UK business was a significant player in film production, working on projects such as Disney's Pinocchio and Mufasa: The Lion King.
* Visual effects studios play a crucial role in modern big-budget movies and TV shows, relying heavily on visual effects to enhance storytelling.
* The collapse may add to the anxiety of VFX professionals, who face a relatively lean jobs market.
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