Historic visual effects studio Technicolor collapses in UK

Historic visual effects studio Technicolor collapses in UK 38 minutes ago Chris Vallance & Tom Gerken BBC News Getty Images Technicolor, the visual effects (VFX) group which has worked on films ranging from Disney's 1940 classic Pinocchio to 2024 blockbuster Mufasa The Lion King, has collapsed into administration in the UK. The group owned several leading visual effects studios including MPC, Mikros Animation and The Mill, with operations in the US, UK, Canada and India. Technicolor's directors had been looking to sell the business, but were not able to find a buyer. Its administrators said "the majority" of the more than 440 people it employed in the UK have been made redundant. The appointment of administrators relates only to the UK arm of its business. "The economic headwinds which are affecting companies right across the creative industries have proved too challenging to overcome, which has led to Technicolor's UK business being placed into administration today," the firm's jo ... Read full article.