Interpath appointed as Jellyfish Pictures administrators

Howard Smith and Mike Pink from Interpath Advisory have been appointed joint administrators to Jellyfish Pictures Limited.

Founded in 2001 and based in London, Jellyfish Pictures is an international BAFTA, Emmy and RTS award winning Animation and Visual Effects (VFX) studio working with clients including Disney, Netflix, DreamWorks, HBO, Sky, the BBC and Amazon.

The group had experienced “challenging” trading conditions for some time as a result of high cost inflation and the cumulative impact of the writers and actors’ strikes, which caused projects to be delayed or cancelled.

In response to these challenges, its directors underwent a review of their investment options, including exploring options for sale and refinancing, but with no solvent options available, they “took the difficult decision” to appoint administrators at the main UK trading company of the Jellyfish Pictures group.

Shortly prior to the appointment of the administrators, Jellyfish Pictures ceased operations. As a result, the majority of its 69 employees were made redundant. A small number have been retained by the joint administrators to assist them as they take steps to wind down the business. 

The joint administrators are now seeking a purchaser for the assets of Jellyfish Pictures Limited, which predominantly consist of computer and audio visual equipment.

Interpath said the joint administrators will be providing support to those impacted by redundancy “as a matter of priority”, including supporting them with redundancy claims. 

Howard Smith, managing director at Interpath and joint administrator, said: “Sadly, this is the latest in a series of insolvencies across the animation and visual effects industry as studios up and down the country continue to battle fierce economic headwinds.”