The studio behind ‘The Clangers’ and the first season of ‘The Tiny Chef Show’ has already laid off eight staff members, with puppets and studio equipment headed to auction after ‘challenging market conditions’ shuttered the company.
Factory Transmedia, the British animation studio known for the reboot of The Clangers and the first season of Nick Jr.’s The Tiny Chef Show, has been placed into a creditor’s voluntary liquidation (the U.K. equivalent of bankruptcy), according to BBC News.
The international audit, tax, and advisory firm Mazars has been appointed to liquidate the studio’s assets. A spokesperson for the firm stated the studio had built a reputation for production and creative excellence, employing hundreds of people, and specializing in a diverse range of animation-led projects.
The spokesperson added, "Unfortunately, over the last 12 months the number of projects being green-lit by broadcasters around the world has been severely cut as the global economy and audience behaviors have changed markedly […] These challenging market conditions were a significant factor in the insolvency of the business.”
Over its 24 years in business, Factory Transmedia produced animated projects for multiple international companies, including Disney, Milkshake, Nick Jr, CBBC and CBeebies.
According to The Manchester Evening News, a spokesperson has announced that eight employees have already been laid off. Many of the studios’ props will be sold at auction, including puppets for the Newzoids satirical sketch show, as well as studio equipment.
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