Prime Focus London’s Commercials division is to be placed into administration, according to a ‘Company Update’ regulatory story posted on the London Stock Exchange’s website, and on Prime Focus London PLC’s corporate site.
The filing does not seem to impact Prime Focus London’s other areas of operation. In fact, the company update notes that, “The Group’s other trading operations in independent film and television VFX are unaffected and continue to trade as normal.”
The company update suggests that although the broadcast business has been improving, the commercials activities have “continued to be a drag on performance.” Prime Focus London PLC is part of Prime Focus Limited of India, a global visual effects, 3D, animation and post production studio with operations in India, USA, Canada and the UK.
Note: an earlier version of this quicktake reported that the Broadcast division of Prime Focus London was also undergoing administration, but that is not the case.