Animation studio Rhythm & Hues began informing its employees tonight that they will file for Chapter 11 bankruptcy protection on Monday. According to a report on Deadline, the studio can no longer pay its employees, and some employees are being asked not to come into work on Monday at the studio’s West LA headquarters.
On Monday afternoon, the LA Times reported that 200 people will lose their jobs due to the bankruptcy. The company employs 1,400 people at its studios in LA, Canada, India, Malaysia and Taiwan.
The legendary CG animation studio has been in business since 1987. They have been responsible for such projects as Babe, Scooby Doo, The Golden Compass, the Coca-Cola “Polar Bear” commercials, and Disney’s Animal Kingdom attraction “It’s Tough to be a Bug.” The studio won a BAFTA yesterday for its visual effects work on Life of Pi.