UK’s Winnersh Film Studios Enters Administration Due “Cash Flow” Problems Linked To 2023 Labor Strikes
deadline.comWinnersh Film Studios, a UK film and TV complex that most recently housed the production of Ghostbusters: Frozen Empire, has entered administration over what management described as “cash flow” problems due to last year’s labor strikes.
Irish-based consultancy firm Interpath Advisory was appointed as administrator of Winnersh Film Studios Limited and its parent company, Stage Fifty, on April 2.
The firm said the studio’s finances took a sharp hit due to the “recent writer and actor strikes,” which it said had a “detrimental impact on cash flow.” Consequently, the senior secured lender, SCIO-Fund SICAV-FIS, to stabilize the business, including seeking the appointment of administrators.
Despite the filling, the firm said it is “committed” to keeping the studio operational. Greg Branch, director of SCIO-Fund SICAV-FIS and CIO at SCIO Capital, said: “We remain fully committed to Stage 50’s model and vision of creating high-quality, innovative spaces for television and filmmakers.
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