LipSync Post’s proposed company voluntary arrangement (CVA) has been approved by its creditors
Last month, Broadcast revealed that LipSync Post had contacted its creditors in a bid to renegotiate its debt.
The Soho post facility said the agreement would allow it to restructure debts, which it attributed to “late payments, the industry slow-down and restrictions on bank lending due to recent closures in the post arena”.
LipSync director Peter Hampden said: “We would like to offer our sincere thanks to our creditors for their much-appreciated understanding of the situation.
“We have also been overwhelmed by the messages of support received from our clients, they have really meant a lot to us.
“LipSync has a strong confirmed roster of current and forthcoming post-production projects over the next twelve months, and are generally seeing an upsurge in both film and television projects.
“With the continued support of our clients, suppliers and talented staff, LipSync will continue to produce the great work for which we are renowned.”