The directors stated that despite their best efforts to sustain operations, the iconic business has become insolvent and is no longer viable.
The global film and post-production industry has faced significant headwinds in recent years, including increasing cost pressures, rapid technological changes, and ongoing challenges of operating in a competitive international market.
The extended writers' and actors' strike in the United States has caused a severe disruption to production pipelines worldwide, creating a knock-on effect that has impacted businesses across the film ecosystem, including ours.
The erosion of international competitiveness of the Section 481 VFX film tax credit has made Ireland a less attractive location for this type of work.
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