Administrators have begun to wind down Axis Studios following the sudden collapse of Scotland’s largest animation and visual effects business.
The move sees 162 staff in Glasgow and Bristol lose their jobs with all active projects cancelled as a COVID-era boom in demand for animation services petered out.
Alistair McAlinden, head of Interpath Advisory in Scotland and joint administrator, explained: “The company experienced a high demand for its services during COVID as animation and visual effects for TV, film and videogames skyrocketed.
“Unfortunately, however, Axis has more recently been impacted by a decline in customer projects, as well as increases in labour costs which have resulted in severe cash flow problems.”
Based in Skypark the video production firm was best known for supplying content to streaming services including CG animation for the Emmy award-winning Netflix series Love, Death & Robots and VFX work for A Man Called Otto, starring Tom Hanks for Sony Pictures.
Other clients included Channel 4, Ubisoft and Amazon Studios.