EXCLUSIVE: Lipsync Put up, the 40-year-old British post-production home and movie investor, has successfully filed for Chapter 11 chapter.
Lipsync, which boasts credit together with The Brutalist and Wolf Corridor, has appointed accountancy agency Oury Clark as an administrator, placing as many as 70 jobs in danger.
The UK administration course of is just like Chapter 11 chapter, however in contrast to within the U.S., the place administrators stay in charge of the enterprise, Oury Clark will take cost of Lipsync’s operations and try and restructure the corporate financially so it will probably pay collectors.
Lipsync’s most up-to-date earnings, filed for the 12 months to the top of July 2023, confirmed that the corporate’s income rose 44% to £36M ($49M). Its pre-tax revenue climbed 77% to £1.4M. Lipsync employed a complete of 69 individuals.
Lipsync’s mum or dad firm is Glenthorp Restricted, which is owned by Peter Hampden and Norman Merry, who’re the publish home’s managing director and finance director respectively. Hampden didn’t reply to repeated requests for remark. Oury Clark was contacted for remark.
Lipsync invested in The Brutalist and its publish work on the Oscar-winning movie included VFX and sound. Different current credit embrace Battle Or Flight, starring Josh Hartnett, and Anthony Hopkins characteristic One Life.
As an investor, Lipsync has backed initiatives together with We Want To Discuss About Kevin, Nice Expectations, Nowhere Boy, and Made In Dagenham.
The administration course of follows the demise of Technicolor, the long-lasting VFX and post-production firm, earlier this 12 months.
