Vfx and animation studio Jellyfish Pictures has suspended operations and is “exploring all options for sale and investment”.
A Jellyfish Pictures statement says it has now “taken legal steps to protect the position of the business while we strive to find a way forward.”
The news comes hot on the heels of the shutdown of Technicolor Creative Studios-owned vfx powerhouses MPC and The Mill just three weeks ago.
Jellyfish Pictures, whose vfx credits include The Creator, Lee, Kaos and The Gentlemen also produces feature animation (Boss Baby 2, How to Train Your Dragon) for studios as well as producing its own animation IP. It has operations in Canada and India as well as the UK. The company is also a B Corporation.
The news of the suspension of operations broke after a ‘senior source’ at Jellyfish Pictures told Indian publication, Animation Express, that the company had suspended global operations temporarily as it grappled with “investor related” issues in the UK. The source told Animation Express that the company had decided to cease operations rather than leave employees in the dark and that all salaries for March could be paid.
Jellyfish Pictures confirmed the news with the below statement.
“Like so many other companies operating across the VFX, animation and wider creative industries, we’ve been battling hard in the face of strong headwinds over the past twelve months. The long-tail impact of Covid, coupled with rising costs and the fall-out from the writer and actor strikes, have had a profound effect on our business.
“Over recent months, we’ve been working closely with our key stakeholders to find a path forward, including exploring all options for sale and investment, with the aim of putting in place a strong financial platform upon which we can build. While we continue to engage in these discussions and explore our options, we have today taken legal steps to protect the position of the business while we strive to find a way forward.
“We have so much to be proud of. We’ve worked on fantastic, ground-breaking projects with brilliant partners. And we want to thank our amazingly talented award-winning teams who day in, day out, strive to push creative boundaries with their innovative thinking and skill.”
Jon Creamer
Share this story
