Home Business Ghostbusters film studios enter administration

Ghostbusters film studios enter administration

by news

Film studios that have been a popular location for Hollywood blockbusters have gone into administration.
Winnersh Film Studios cited "cashflow problems" linked to the 2023 writers and actors strikes in the US as the culprit for its financial woes.
Consultancy firm Interpath Advisory has been appointed as administrator of Winnersh Film Studios Limited and its parent company Stage Fifty.
Ghostbusters: Frozen Empire was partly filmed at the studios.
Interpath said the companies would "continue to run as normal" for now, with lenders saying they were "committed" to keeping the Berkshire-based studios running.
It is located at the Winnersh Triangle business park and already has two sound stages, with plans for another approved by Wokingham Borough Council last year.
But Interpath Advisory said the knock-on effect of the writers and actors strike in the US last year had caused cashflow problems.
This led to finance firm SCIO Capital, the senior secured lender to the studios, to bring in administrators.
It is not yet known if the move will affect plans to expand the film studios, or if operations will be scaled back.
Greg Branch from SCIO Capital said the investment firm wanted to "stabilise" the business so it could "move forward".
He said: "We remain fully committed to Stage Fifty's model and vision of creating high-quality, innovative spaces for television and film makers."
Interpath Advisory said other parts of the Stage Fifty group are not in administration and continue to trade as normal.
Ghostbusters: Frozen Empire is a 2024 American supernatural comedy film. It is the fifth film in the Ghostbusters franchise and stars some of the original cast members, including Bill Murray, Ernie Hudson and Dan Aykroyd.
Follow BBC South on Facebook, X, or Instagram. Send your story ideas to south.newsonline@bbc.co.uk or via WhatsApp on 0808 100 2240.
New film studios sound stage building approved
New film studios to bring up to 1,000 new jobs
UK TV production booms after pandemic slump
Stage Fifty
Wokingham Borough Council
Drivers warned: M4 closure to be aware of this month near Bracknell
Cultural roadshow kicks off 'cheerful' Hindu new year celebrations in Slough
Wokingham Borough Council leader hits back at Conservative claims
'One of the world's largest musical instrument shops' to open in Maidenhead
Around 2,000 enjoy Ghostbusters and A-Team attraction at Maidenhead Comic Con & Toy Fair
Remember When: Queen's visit to Maidenhead Citizens Advice Bureau
Israel's Gaza withdrawal hints at what comes next
Security raised for Champions League ties after threat
Swiss women in unprecedented Europe climate change victory
Watch best moments from solar eclipse. Video
'Why I rewrote Huckleberry Finn to give slave Jim a voice'
Boom times for US green energy as federal cash flows in
The new pace sensation lighting up IPL
Why is Russia trying to frame Ukraine for concert massacre?
'Carrot harvest helped me detect ancient coin hoard'
The Syria I came back to is not the one I left
Myanmar's army massacred Rohingyas. Now it wants their help
Bucha's wounds still raw two years on
What was so special about yesterday’s solar eclipse?
Science correspondent Pallab Ghosh’s brief guide to the cosmic phenomenon
How did Sweden become a hotbed for hot tracks? 
James Ballardie charts Sweden's remarkable rise as a music superpower
Will China's electric car industry shock Europe?
Steve Fowler explores the potential risks Chinese electric car manufacturing poses to Western brands
One of the world's biggest stars through a unique lens
The stories behind ten defining images of Amy Winehouse, from iconic shots to private snaps
© 2024 BBC. The BBC is not responsible for the content of external sites. Read about our approach to external linking.

source

Related Posts