Post and vfx house, No.8 London, has announced that it will be entering insolvency proceedings, the latest post production company to fall foul of tough market conditions.
The team have been informed of the news already this morning.
Recent times have seen the closure of several major post and vfx houses including Halo and Evolutions, Glassworks, Jellyfish Pictures, MPC and The Mill. Recent weeks saw the news of Absolute’s closure too.
No.8 London acquired HETV and film vfx house, JAMVFX, back in April last year combining No.8’s commercials capabilities with JAMVFX’s expertise in long form. The combined operation sat under the No.8 banner with JAMVFX’s founders becoming part of the No.8 leadership team.
No.8 CEO Barny Wright and his management team released a statement saying
“After a remarkable journey as one of London’s pre-eminent multi-disciplined studios, No.8 London has announced it will be entering into insolvency proceedings. The difficult decision comes as a direct result of unprecedented economic headwinds and rapid client structural shifts, particularly those currently impacting the global commercial production sector.
“Since its inception, No.8 London has been a pioneer by uniting audio, VFX, and colour under one roof, breaking boundaries across all disciplines and acting as a home to some of the industry’s most extraordinary talent.
A further joint statement from the Directors of No.8 reads, “We are extremely proud of what we built at No.8, the people we have met, the talent we have developed, the clients and partners we have worked with and the creative work we have produced. However, the industry has changed and, despite our best efforts, we are sad to say that it has not been possible to keep the business going.”
Jon Creamer
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