• Tue. Feb 27th, 2024

Bankruptcy protection for London native’s Hollywood film studio

Bankruptcy protection for London native’s Hollywood film studio

A Hollywood movie studio started by a London native has been driven into bankruptcy by the headwinds caused by the pandemic and recent labor disruptions in the entertainment industry.

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Aaron L., a native of London. Bronn, Gilbert’s chief executive, has announced that the studio has filed for bankruptcy protection. Based in British Columbia, the studio was the force behind critical hits like Joker and Licorice Pizza, as well as less well-received commercial projects like the Adam Driver dinosaur film 65 and The Idol starring Canadian musician The Weeknd.

In 2018, Bron opened a London office for its animation division. Bronn-related films have won six Academy Awards.

Braun was launched in 2010 by Gilbert and his wife, Brenda. The name Bron is a mashup of their first names.

The Canadian financing and production company announced that “the Bron Group companies have obtained protection from creditors in Canada pursuant to an initial order of the Supreme Court of British Columbia under the Companies Creditors Arrangement Act.”

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The company also filed for Chapter 15 protection, the process in the US to initiate a bankruptcy proceeding involving businesses in other countries.

In a statement obtained by industry publication Variety, Gilbert addressed the company’s “friends, partners, team members and supporters.”

“Having explored several options over several months, Braun had no choice but to take this action in light of its financial circumstances,” Gilbert wrote in the letter. “The last few years have been incredibly difficult for Bronn, and things have only gotten more complicated these past months.”

He blamed the COVID-19 pandemic and the strike by actors’ and writers’ unions that brought the American film and TV industry to a virtual standstill this summer, and severely curtailed the pace of production in Canada.

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The letter went on to thank the “many friends” who have supported Bron and its creative, production, business and financing partners through “a very difficult few years” and vowed to keep them informed of the studio’s next steps.

“Your continued support and patience will continue to be critical during this rebuilding process, and we will continue to keep you informed as we move through this process.”

According to Variety, Gilbert said in the letter that the company would not discuss the development with the media.

In a Globe and Mail profile, Gilbert was the youngest of three children born in London to parents who were medical professionals. He attended McMaster University, but did not graduate, and later lived in Los Angeles and Vancouver. He managed bands before venturing into film production.
A complete list of Bronn’s film and TV projects can be found here.

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