Imagi Animation Studios, also known as Imagi Studios, was an animation and visual effectsstudio based in Hong Kong, and established in 2000 by Imagi International Holdings Limited (SEHK: 585), a Hong Kong–based investment company.
Background
In 2000, Imagi Animation Studios was set up and production started on its first project, the CGI-animated television series Zentrix. The company had a studio in Chai Wan, Hong Kong, as well as a creative development and production facility in Los Angeles, California and a satellite office in Tokyo.
The company's first CGI-animated theatrical film TMNT was released on March 23, 2007, by Warner Bros. in the United States and Canada, opening No. 1 at the box office, and was being distributed internationally by the Weinstein Company. Imagi's focus was to create high-quality CGI-animated feature films with superhero themes to entertain global audiences, combining Hollywood storytelling with computer animation done in Hong Kong.
Setbacks and bankruptcy
In January 2009, Imagi's auditing firm announced that the studio lacked funding to complete the release of Cat Tale (which was to have been released by Metro-Goldwyn-Mayer[2]) and Gatchaman and art director Felix Ip reported that Gatchaman's release was not expected until later in 2009.[3] In June 2009, Imagi opened Gatchaman to licensing partners and announced a 3-D theatrical release for 2011.[4] In October 2009, Imagi released Astro Boy, based on the manga series of the same name, the film was a box-office bomb, losing the company $23 million in the process.
In January 2010, Imagi's Hong Kong–based parent company Imagi International Holdings Limited announced that the Gatchaman project will be "delivered in 100% Stereoscopic 3-D" and that in order to safeguard working capital, it closed its United States subsidiaries. This closure was finalized in late January with the layoff of approximately 30 staffers and the retaining of a few key personnel who will continue to work as consultants as Imagi seeks $30 million from investors to continue its animation projects.[5][6][7]
On February 5, 2010, following the financial failure of Astro Boy, Imagi Animation Studios filed for bankruptcy. [8][9][10]
^It closed its doors as Imagi to assume another company name as to avoid any unclaimed debts to investors and staff.
"Astro Boy maintenu, Gatchaman sur la corde raide" (in French). Otakia. 9 January 2009. Archived from the original on 9 April 2015. Retrieved 29 January 2010.
^"意馬數百員工面臨遣散" (in Chinese). Sina.com. 6 February 2010. Archived from the original on 11 February 2010. Retrieved 28 November 2015.{{cite web}}: CS1 maint: unfit URL (link)
