EXCLUSIVE: Lipsync Post, the 40-year-old British post-production house and film investor, has effectively filed for Chapter 11 bankruptcy.
Lipsync, which boasts credits including The Brutalist and Wolf Hall, has appointed accountancy firm Oury Clark as an administrator, putting as many as 70 jobs at risk.
The UK administration process is similar to Chapter 11 bankruptcy, but unlike in the U.S., where directors remain in control of the business, Oury Clark will take charge of Lipsync’s operations and attempt to restructure the company financially so it can pay creditors.
Lipsync’s most recent earnings, filed for the year to the end of July 2023, showed that the company’s revenue rose 44% to £36M ($49M). Its pre-tax profit climbed 77% to £1.4M. Lipsync employed a total of 69 people.
Lipsync’s parent company is Glenthorp Limited, which is owned by Peter Hampden and Norman Merry, who are the post house’s managing director and finance director respectively. Hampden did not respond to repeated requests for comment. Oury Clark was contacted for comment.
Lipsync invested in The Brutalist and its post work on the Oscar-winning film included VFX and sound. Other recent credits include Fight Or Flight, starring Josh Hartnett, and Anthony Hopkins feature One Life.
As an investor, Lipsync has backed projects including We Need To Talk About Kevin, Great Expectations, Nowhere Boy, and Made In Dagenham.
The administration process follows the demise of Technicolor, the iconic VFX and post-production company, earlier this year.
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