Technicolor Group has filed for a court recovery procedure in France after failing to secure new investors, putting its VFX brands, including MPC, The Mill, Mikros Animation, and Technicolor Games, at risk of closure. Variety reports: A total shutdown of MPC and Technicolor’s operations would affect thousands of visual effects workers in countries include the U.S., UK, Canada and India. The turn in business has raised the alarm and sparked sadness within the VFX community. Parot’s memo explains, “In each country, the appropriate framework for orderly protection and way forward is currently being put in place to allow, when possible, to remain in business continuity.”
Technicolor has already started to shut down U.S. operations. On Friday, it began alerting customers and employees, sending U.S. employees a WARN notice as required by law for large companies that anticipate closings and mass layoffs. At least one recovery effort already started for roughly
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