LogInAxis Studios
The award-winning animation and visual effects studio, Axis Studios, known for its work with the BBC, Netflix, and Activision Blizzard, has gone into administration, and this has led to over 160 job losses.
According to BBC, the Glasgow-based company, which created content globally for TV, film, video games, and theme parks, including notable franchises like Harry Potter and Doctor Who, is said to have "severe cash flow problems," caused by a decline in projects and increasing labor costs.
The studio was looking for a senior animator to work on the 4th episode of Love, Death & Robots back in May, and their Twitter account had been actively updating the studio’s works and news, with the last post being posted around one month ago.
Alistair McAlinden, Head of Interpath Advisory in Scotland, expressed sadness at the closure of such a creative business. He said:
“Axis has more recently been impacted by a decline in customer projects, as well as increases in labor costs which have resulted in severe cash flow problems.
The directors worked tirelessly to explore alternative solutions, but ultimately had to take the difficult decision to seek the appointment of administrators.”
Axis Studios
Geoff Jacobs, joint administrator, emphasized that their priority is to “give employees support in the first instance.” Any parties who have an interest in the studio’s live projects are encouraged to contact them immediately.
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