VFX and Post-Production Business Cutting Edge have been formally entered into creditor voluntary liquidation less than a year after it was announced as one of the first recipients of the Queensland Government’s $5 million capital grant programme.
According to a notice from the Australian Securities and Investment Commission (ASIC), the company was liquidated on June 27th and the decision was made to lure the company after a resolution passed at the members’ general meeting held on the same day. William Paul Cotter of the Robson Cotter Insolvency Group has been appointed liquidator, tasked with overseeing the process.
It marks the end of a nearly three-year journey for a company with studios in Sydney, Brisbane and the Gold Coast.
With expertise spanning VFX, photography and sound post production, Cutting Edge’s Gold Coast team has provided high-profile productions such as Nautilus, Bud Land, Tickets to Paradise, 13 Life, Aquaman, and Pirates. Earlier this year, the company completed post-production of Queensland Shot’s US drama Goodcop/Badcop. The cast received a special award from the ju judge at the Monte Carlo TV Festival last month.
Last year, the Queensland government pledged to help expand Gold Coast Base at Cutting Edge, named it as one of 12 small businesses to receive grants as part of a $5 million capital grant program.
This is another ominous sign of the VFX industry, and was hit earlier this year when Technicolor Creative Studios UK Limited applied for administration.
Following the deadline, the Paris-based Technicolor group, which owns Mill, MPC and Microscos Animation, said “post-Covid recovery, costs and complex separation from the previous group, followed by writer strikes following slowing customer orders, causing serious cash flow pressure.”
We were contacted to the cutting edge for comments.
