In brief
- The film industry in the United Kingdom suffered a serious set back during the COVID-19 pandemic, one that it has struggled to recover from.
- Businesses across the sector are facing the effects of a combination of rising costs and declining cinema audiences, with many now facing the prospect of insolvency proceedings. The interconnected nature of the industry means that one business’s failure can easily have knock-on effects for others as well.
- Some have been able to make use of the UK’s “rescue” focused insolvency processes, such as Creditors Voluntary Arrangements and Restructuring Plans to put themselves on a surer footing.
- However, even these more collaborative processes can give rise to disputes and…