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Arc Productions declares bankruptcy

Canadian animation studio Arc Productions, whose clients include Sprout and Netflix, has shut down its operations in Toronto and is on the brink of receivership.

Arc Productions CEO Tom Murray has written to staff informing them that the company has been unable to resolve its current “financial emergency” with its lender.

As a result, Deloitte Restructuring is set to take control of the business on August 4 and the company’s Toronto-based studio has been closed to staff, reports Toronto VFX Jobs.

Arc, which rebranded from Starz Animation in 2011, was tapped by US cablenet Sprout in March to produce the animation for its forthcoming toon Kody Kapow, which is due in early 2017.

It has also produced feature films such as Gnomeo & Juliet and TV series including Matt Hatter Chronicles and Netflix’s Tarzan and Jane.
 DA2016 

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