Bron, the Canadian studio behind films including “Joker” and Clint Eastwood’s “The Mule,” filed for cross-border bankruptcy on Wednesday.
“The decision to seek creditor protection was not taken lightly and was adopted with a view to the best interests of the company and its many stakeholders,” a company memo from CEO Aaron L. Gilbert read.
The company filed for creditor protection in Vancouver, B.C., and Chapter 15 in the U.S.
Gilbert wrote that Bron will be working with its creditors and stakeholders alongside court-appointed monitor Grant Thornton Limited and that proceedings “are expected to be completed by late
fall.”
He thanked the Bron team, as well as the company’s “incredible creative, production, and business partners,” as corporate backers and reps and service providers for “all the support and patience through a very tough few years.”
Gilbert added, “Your continued support and patience will remain critical during this restructuring process, and we will continue to keep you informed as we move through this process.”
Per the company’s website, Bron has been a financial backer, back-office studio and co-producing partner to start-up production companies such as Kid Cudi’s Mad Solar, the team behind Sam Levinson HBO series “Euphoria” and “The Idol,” Apple’s “Black Bird,” and “The Morning Show,” as well as Focus Features’ Oscar-nominated Cate Blanchett film “Tar” and A24’s horror hit “X.”
As previously reported in TheWrap, Bron was sued by Hudson LP for $14.3 million. The lawsuit, filed in October 2021, alleged that the company has failed to meet its obligations in the case of four Bron titles: “Bombshell,” “Capone,” “The Survivor” and Greyhound.”
Bron has several projects in varying stages of development, including Warner Bros. Discovery’s “Joker: Folie à Deux” starring Joaquin Phoenix and Lady Gaga and franchise extensions for “Legally Blonde” and “Robocop” for MGM. Their most recent wide release theatrical was Columbia’s “65,” starring Adam Driver as an interstellar pilot hunted by dinosaurs.
