Visual effects and animation company Jellyfish Pictures has suspended operations as it explores “all options for sale and investment.”
The news follows the collapse of Technicolor at the end of February, which saw over 400 members of staff in the UK lose their jobs.
Jellyfish, which has offices in London and Sheffield, has recently worked on Netflix’s The Gentleman and Apple TV’s Constellation, with other clients including Disney, HBO, the BBC, and Amazon.
In a statement, the company said it has been “battling hard in the face of strong headwinds” over the last 12 months as well as dealing with the impact of the Covid pandemic, Hollywood strikes and rising costs.
“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,” added the statement.
“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.”
