We reported yesterday that Welsh animation house Dinamo Productions went into administration last week. According to C21, David Hill and Steve Wade, from Cardiff-based business recovery specialist Begbies Traynor, have been appointed joint administrators of the company. The administrators are now seeking new production partnerships and financing to help the studio get back on its feet.
“The decision comes after a challenging few years for the animation industry in the UK as a whole and the on-going commitment to a large production facility has become a burden on the company’s finances,” reads a statement from the administrators. “We are looking forward and exploring options where the Dinamo brand will continue to produce and develop content collaboratively with UK and international partners.”
Although all 27 Dinamo employees have been laid off, the administrators said that other employment has been found for many of them. The studio was founded in 2004 by MD Owen Stickler with Aron Evans and worked on popular children’s shows such as Rastamouse and The Abadas.