“Life of Pi” visual effects studio files Chapter 11

Just a day after accepting an award for its work on “Life of Pi,” Rhythm & Hues announced that it has filed for relief under Chapter 11. An India based company, Prime Focus, was set to buy Rhythm & Hues and the plan was to hold on until the sale could be finalized, thanks to a $20 million loan by three other studios. However, when the sell fell through, Rhythm & Hues had no choice but to file for bankruptcy relief.

For more about the bankruptcy filing and the financial difficulties of the visual-effects industry read, “Rhythm & Hues bankruptcy sends shockwaves through visual-effects industry.

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