Imagi on the Verge of Closure

The Oriental Daily News Chinese language newspaper reports that Hong Kong based animation studio IMAGI has laid off nearly all of its remaining staff. Around 100 of the company’s 400+ employees were laid off on December 11, 2009. The company has now laid off an additional 300+ employees, leaving the company open with a skeleton staff while its seeks new investors. Reportedly Imagi will re-hire its laid-off employees if new operating capital is secured. The company did that in January 2009. However, Imagi is also considering liquidation should new investments not materialize soon.

Imagi most recently spent $60 million USD on the production of the 2009 Astro Boy animated movie that earned $23 million USD globally. The studio’s next feature will tentatively be an adaptation of Tatsunoko’s Science Ninja Team Gatchaman anime franchise.

Source: Anime News Network