Axis Studios, a prominent UK-based animation studio renowned for its work across video games, movies, TV, and theme parks, has entered administration, as reported by the BBC. This move has resulted in the layoff of 162 employees, with only four remaining to oversee the winding down of operations.
Founded in 2000 by Richard Scott, Dana Dorian, Stuart Aitken, and Graham McKenna, Axis Studios gained recognition for its contributions to gaming, including trailers and cinematics for major titles like Halo, Destiny, League of Legends, and Dead Island, among others. Their expertise extended across various media platforms, illustrating their versatility and impact in the entertainment industry.
The studio’s decline into administration was attributed to severe cash flow issues exacerbated by a dwindling number of projects and rising labor costs. Alistair McAlinden from Interpath Advisory, acting as joint administrator, noted that despite efforts to explore alternative solutions, the directors were compelled to seek administration as a necessary step.
Geoff Jacobs, also a joint administrator, emphasized the immediate priority of providing support to affected employees. He urged stakeholders involved in Axis Studios’ ongoing projects to contact them promptly, highlighting the administrators’ commitment to managing the studio’s remaining obligations.
The administration of Axis Studios marks a significant development in the UK’s animation sector, underscoring the challenges faced by creative enterprises amidst economic pressures and evolving market dynamics.
