Steve Absolom and Will Wright were appointed Joint Administrators of The Imaginarium Studios Limited – in Administration (the ‘Company’) on 15 May 2017.
The firm, which was founded by the actor-director Andy Serkis and film producer Jonathan Cavendish, is a leader in performance capture for film, TV, digital application and video games production, working primarily with studios in the US and UK as well as investing in and developing a film and TV production business in London.
Following a period of marketing, a sale of the assets relating to the performance capture studio and certain direct subsidiaries and their associated key film contracts to different parts of the management team represented the best chance of achieving a business rescue that maximised the recoveries for creditors.
The prospects of recoveries for unsecured creditors are dependent on the successful completion and release of a number of key film and video game projects as the Company is entitled to receive a share of profits from the buyers if the projects perform well.
We will keep creditors updated with our statutory reports on progress.