The VFX company Technicolor may be going out of business as its division in the United Kingdom has just entered administration, rendering the majority of its 440 employees redundant.
Nick Holloway and David Pike of the British advisory firm Interpath were named administrators of Technicolor Creative Studios UK Limited. In a statement, Holloway said they will seek an “orderly wind-down” of the business.
“Unfortunately, the economic headwinds which are affecting companies right across the creative industries have proved too challenging to overcome,” the Monday statement read. “We will endeavour to support the company’s workforce who have been impacted by redundancy, as well as exploring options to realise the company’s assets.”
The news came via a memo to employees sent Monday, a day after Technicolor announced the closing of its offices in the U.S., including in Los Angeles, New York and Chicago. Among the subsidiary post-production houses owned by Technicolor are MPC, The Mill and Mikros Animation.
Technicolor has struggled to remain financially solvent since the 2023 WGA and SAG-AFTRA strikes, which brought the production pipeline to a standstill for 191 days. Even after the strikes ended, post-production vendors faced an even longer wait for business to fully pick back up as film and TV projects paused by the work stoppage needed more time to wrap shooting.
Among the recent films that have had post-production work done by Technicolor include “Kraven the Hunter,” “Emilia Pérez” and the upcoming “Mission: Impossible – The Final Reckoning.”
Read the full memo to Technicolor U.K. employees, below:
Nick Holloway and David Pike from Interpath were appointed joint administrators to Technicolor Creative Studios UK Limited on 24 February 2025.
The Company is part of the Technicolor Group, an award-winning visual effects, animation and creative design studio which provides services to the global entertainment, media and advertising industries under its business units The Mill, MPC, Mikros Animation and Technicolor Games.
The Group had been facing financial challenges for some time, exacerbated by rising labour costs, as well as the long-tail impact of the 2023 writers’ strike which delayed projects.
In response, the directors sought to explore their funding options, including exploring options for a sale and refinancing, but with no solvent options available, they took the difficult decision to file for the appointment of administrators.
Immediately following their appointment, the majority of the Company’s activities have ceased. As a result, and with regret, the majority of the Company’s circa 440 employees in the UK have been made redundant. As a priority, the joint administrators will be providing support to those impacted, including supporting them with claims to the Redundancy Payments Service.
Nick Holloway, managing director at Interpath and joint administrator, said: “The Technicolor Group has a long and proud heritage, dating back more than a century, and whose credits include working on famous films including Disney’s Pinnochio in the 1940s, all the way through to more recently, Ridley Scott’s Prometheus.
“Unfortunately, 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.
“As we seek to affect an orderly wind-down of the business, we will endeavour to support the Company’s workforce who have been impacted by redundancy, as well as exploring options to realise the Company’s assets.”
Any parties interested in acquiring assets of the UK business, and specifically ‘The Mill’ brand, should contact the joint administrators at Interpath.
For the avoidance of doubt, the appointment of the joint administrators relates only to the UK business.
