UK VFX home Jellyfish Pictures has suspended all operations and is at present exploring choices for both a sale or massive scale funding.
The corporate launched an announcement late yesterday after information broke of the corporate halting operations within the native press in India, the place the corporate has a manufacturing outfit. The assertion mentioned the corporate had been “battling arduous within the face of sturdy headwinds over the previous twelve months. The long-tail influence of Covid, coupled with rising prices and the fall-out from the author and actor strikes, have had a profound impact on our enterprise.”
“Over current months, we’ve been working intently with our key stakeholders to discover a path ahead, together with exploring all choices on the market and funding, with the purpose of putting in a robust monetary platform upon which we will construct,” the assertion mentioned. “Whereas we proceed to have interaction in these discussions and discover our choices, we’ve got as we speak taken authorized steps to guard the place of the enterprise whereas we attempt to discover a manner ahead.”
Jellyfish first launched in 2001. The corporate had credit on many studio tasks like The Lady King, Watchmen, Star Wars: The Final Jedi, and Rogue One: A Star Wars Story alongside titles like Wes Anderson’s Asteroid Metropolis and The Great Story Of Henry Sugar. They lately labored on the upcoming Black Mirror collection and Kate Winslet’s Lee. As of June 2024, the corporate had additionally launched an outpost in Canada alongside it’s Indian off-shoot.
Jellyfish is the most recent VFX firm to halt operations. Final month, Technicolor filed for administration. The corporate’s international headcount was between 4,000-10,000.
