The image gets a college for the iconic film company Technicolor with the updates that Technicolor Creative Studios UK Limited to the management file today [Monday 24 February] The French sections of the company will open judicial guard procedures.
Post Giant Technicolor Group has abundant brands including Mill, MPC and Mikros Animation, whose works have spanned hundreds of films from Harry Potter to Mofasa: King of AssadOscar candidate Emilia Perez And next Paramount Impossible task – final account.
In a message sent to UK employees on Sunday, and was later published on Reddit and checking multiple VFX ports, the group blamed “recovery after the ruling, which is an expensive and complicated separation from the previous group, followed by the book strike, which led to a slowdown in customer orders that cause Severe cash flow pressure. ”
The message, which you can read below, said that the call will take place on Monday afternoon between the consultants of officials between officials and the United Kingdom. We have contacted Technicolor and Interpath to comment.
Meanwhile, a message to French workers stated during the weekend: “The Technicolor Group has applied to the Paris Commercial Court to open judicial guard procedures in relation to the following French companies: Mikros Image, Mill France, Technicolor Group and Technicolor Animation Production and Technicolor Trademark management.
“The purpose of conducting the guard is to enable a company to continue trading, and it may lead to the assets and employees of each of the companies in the procedure that is seized as part of the disposal plan provided by the third -party buyer. In practical practice, the position in the judicial custody does not affect the operations of the companies concerned And that is still working and following its contracts and commercial relationships in the same way that it was before the judicial guard.
This comes after the global company VFX and the post -production giant of American employees on Friday that US offices will be stopped in Mill and MPC advertising and Mikros because of “severe financial challenges”.
In a speech, the company said: “Despite the comprehensive efforts – including initiatives, restructuring, discussions with potential investors, and exploring acquisition opportunities – we were unable to secure a viable path forward. Unfortunately, this does not leave us any alternative but to confess The company may have to imprison the mortgage.
It is not clear that the number of jobs is affected, but the Technicolor group employs more than 10,000 around the world, so the industry is preparing. It is also unclear how current projects will be affected. Only last week the group was celebrating nominations at the VES Awards and indicating its last work in Superbowl ads.
The iconic brand of the Tecnicolor brand has undergone multiple re -implementation and management changes in recent years after being submitted for protection from Chapter 15 of bankruptcy in 2020. Caroline Barrot, temporary CEO, was appointed in 2023. Post Technicolor was sold to the administrative media For $ 36.5 million in 2021, and combines its operations with its operations with companies Streamland. In 2022, Technicolor re -launched MPC and other current brands as creaticolor creative services.
More as we have.
Send a message to UK workers
Dear team,
As we communicate over the past months, the group faces difficulties related to a variety of factors and has not survived from the external opposite winds: the difficult operational situation resulting from the subsequent recovery, which is a costly and complex separation from the previous group followed by the book strike, which led to a slowdown in customer orders, which caused Severe cash flow pressure.
In each country, a suitable framework for organized protection is currently being placed and moved to allow, wherever possible, the continuity of work. Please find some details about the position related to the United Kingdom:
In the United Kingdom, Technicolor Creative Studios UK Limited will submit a management application on Monday 24 February.
Interpath Convisory officials will be appointed to deal with the affairs of the entity in the UK, TCS UK Limited, and they will be responsible for contacting all UK employees.
Once the officials are appointed, they will send an email, while calling the details to the call tomorrow afternoon as they explain the impact of the administration on the employees. While this call is waiting tomorrow and the details of the next steps, we ask you to refrain from coming to the office that will be close to this day.
This decision was not taken lightly. Each possible way is explored to maintain our legacy and secure the future of our teams accurately in the hope of allowing TCS UK activities with potential new investors.
Technicolor collection
The specified French email (translator)
Dear team,
We are following the communications sent today to all Technicolor Group employees to provide you with additional information. As announced, in each country, a suitable framework for protection and regulating procedures for allowing, as much as possible, is currently announced. Here are some details of the situation in France:
The Technicolor Group collection applied to the Commercial Court in Paris to open judicial guard procedures in relation to the following French companies: Mikros Image, Mill France, Technicolor Group, Technicolor Animation Management and Technicolor Management.
The purpose of conducting the guard is to enable a company to continue trading, and may lead to the assets and employees of each of the companies in the procedure that is seized as part of the disposal plan provided by the third party buyer.
In practice, the position in the judicial custody does not affect the operations of the companies concerned, which are still operating and following up their contracts and commercial relations in the same way that were before the judicial guard.
We will return to you on Monday to report the situation and keep you aware of the progress of the procedure. We plan to hold an information meeting on Monday afternoon.
Technicolor collection
