VFX house had paused its operations earlier this month

jellyfish

VFX and animation house Jellyfish Pictures has appointed Howard Smith and Mike Pink from Interpath Advisory as administrators. 

Earlier this month, the Brixton-based company paused its operations while, “exploring all options for sale and investment.” It had named the effects of Covid and the writers and actors strikes in the US as having caused its financial troubles. The administrators have now added high cost inflation to the list of causes. 

The majority of Jellyfish’s 69 employees have been made redundant, with a small number kept on to wind down the business. The administrators will assist employees with their claims to the Redundancy Payments Service. 

Interpath is also looking for a purchaser for Jellyfish’s assets, which predominantly consist of computer and audio visual equipment. 

Smith, who is also managing director of Interpath, said: “Sadly, this is the latest in a series of insolvencies across the animation and visual effects industry as studios up and down the country continue to battle fierce economic headwinds.”

Jellyfish was based in Brixton, London, with global offices in Toronto, Canada, and Mumbai, India, that it had expanded to over the past two years.