Torontos’s Arc Productions shut down its studio today, locking out hundreds of employees and telling them not to come to work on Tuesday.
“We regret to inform you that Arc is experiencing significant financial difficulties and a liquidity crisis,” CEO Tom Murray wrote to his staff in a letter. “Despite the very best efforts of management to find a solution to this financial emergency, we have not been able to resolve this matter with our lender.”
Among other projects, Arc was in production on the feature Blazing Samurai (pictured at top), which is scheduled for release next year by Open Road Films. No word on what will happen to that project. The studio also contributed the production of many series, including the popular Thomas & Friends television and direct-to-video series, Marvel and LEGO animated specials like LEGO Marvel Super Heroes: Avengers Reassembled!, Disney Channel’s Elena of Avalor, and Netflix’s upcoming Tarzan and Jane series.