Imagi Animation Studio’s Los Angeles office has closed, with the company laying off about 30 staffers who worked there.
A few key employees from the Sherman Oaks facility will continue to work for Imagi as consultants, states a report from the financial web site HotStocked.com.
Imagi made last year’s CG version of Astro Boy, which underperformed at the box office. Reportedly made for $65 million, Astro Boy grossed $23 million worldwide.
The company continues to operate offices in Tokyo and Hong Kong.
The parent company, Imagi International Holdings Ltd., is seeking $30 million from investors to continue its animation projects, which include a CG-animated version of the classic anime series Gatchaman.