Scottish Animation Firm Axis Studios Faces Administration
Axis Studios, a well-known animation firm based in Scotland, is facing financial difficulties and has entered administration due to severe cash flow problems. According to reports from the BBC, 162 employees have unfortunately lost their jobs as a result, with only four remaining to assist in the winding down process.
The company, which has previously collaborated with major names such as Blizzard and Riot Games, has cited a lack of customer projects as the main reason behind their current situation. Alistair McAlinden, the Scottish boss of Administrators Interpath Advisory, explained that the decline in projects and rising labor costs have led to the severe cash flow issues faced by Axis Studios.
Despite efforts by the directors to find alternative solutions, the decision to appoint administrators was deemed necessary. Joint administrator Geoff Jacobs emphasized that their primary focus is on providing support to the affected employees and urged any parties interested in Axis’ ongoing projects to get in touch promptly.
