Take 2 Film Holdings (Take 2 FH) has entered administration two weeks after selling the assets of its camera and grip division to Procam.
Howard Smith and Will Wright from KPMG Restructuring were appointed joint administrators of Take 2 FH on Tuesday 8 March and are “currently trading the lighting division while they explore a sale of business”.
The camera and grip assets of Take 2 FH’s camera division and the Take 2 brand were sold to Procam subsidiary Procam Take 2 Holdings on 25 February for an undisclosed amount. All 26 camera staff were also taken on by Procam.
Smith from KPMG Restructuring said: “Take 2 FH experienced a downturn in trading during the course of 2015, and despite the sale of the camera division, the directors were unable to continue trading the lighting division considering the level of creditor pressure.
“The Company has a good reputation within the television industry and we are confident that a sale of the lighting and remaining business can be achieved fairly quickly.”
Take 2 FH’s 10 members of staff will continue to work out of the company’s Pinewood Studios facility while the administrators look for a buyer.