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A UK animation firm announced Friday that, after 24 years of operation, it has gone into liquidation, including the sale of many assets that will be familiar to the fans of its shows.
The BBC reports that Factory Transmedia, based in Altrincham, Greater Manchester, has been put into a creditors’ voluntary arrangement.
Over the past two decades, the firm has produced animation for global companies including Disney, Milkshake, Nick Jr, CBBC and CBeebies. In 2015, it led a £5million revamp of classic children’s show The Clangers, with Monty Python star Michael Palin as the narrator. Other titles included Scream Street and Strange Hill High.
The BBC reports that liquidators cited “challenging conditions” in TV commissioning as a factor in the firm having to close, and that many of the company’s assets will be sold off via online auction, including props and studio equipment.
The Sun reports that the firm had several offices in the north of England and employed hundreds of people in the creative industry.
The Manchester Evening News quotes a spokesperson for the firm announcing that eight staff so far have been made redundant.
They added: “The Company was incorporated in 2000 and has employed hundreds of creative, talented people; building a reputation for production and creative excellence.
“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 behaviours have changed markedly.
“These challenging market conditions were a significant factor in the insolvency of the business.”
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