Winnersh Film Studios has gone into administration following what have been described as ‘cash flow problems’ linked to writers and actors strikes in the United States.
Consultancy firm Interpath Advisory announced on Friday, April 5, that it had been appointed as administrator of Winnersh Film Studios Limited and its parent company Stage 50.
Interpath said the companies will ‘continue to run as normal’ for now, and lenders said they are ‘committed’ to keeping Winnersh Film Studios running.
Going into administration can mean spending cutbacks as administrators try to keep the company afloat.
Winnersh Film Studios is located at the Winnersh Triangle business park, and already has two sound stages. Plans for another were approved by Wokingham Borough Council last year.
The new Ghostbusters: Frozen Empire movie was partly filmed there.
Interpath Advisory said the knock-on effect of a writers and actors strike in the U.S. last year had caused cash flow problems. This led an investment fund from finance firm SCIO Capital – the senior secured lender to the studios – to bring in administrators.
It is not yet known if the move will affect plans to expand the film studios, or if operations will be scaled back.
Greg Branch from SCIO Capital said the investment firm wants to ‘stabilise’ the business so that it can ‘move forward.’
He said: “We remain fully committed to Stage 50’s model and vision of creating high-quality, innovative spaces for television and film makers.”
Interpath Advisory said other parts of the Stage 50 group are not in administration and continue to trade as normal.
