Bron Studios, the Canadian finance and production company that emerged as a media force in 2017 and has backed awards favorites like “Joker,” “Judas and the Black Messiah” and “Licorice Pizza” and commercial plays like “Ghostbusters: Afterlife,” “The Mule” and “65,” has filed for bankruptcy.
Co-founder and CEO Aaron L. Gilbert disclosed the news in a statement on Wednesday, penning a letter to the banner’s “friends, partners, team members and backers.”
“Having explored many options for many months, BRON had no choice but to take this step in light of its financial circumstances. The last few years have been incredibly difficult for BRON, and things have only gotten more complicated over these past months,” Gilbert shared, citing the COVID pandemic and both the SAG-AFTRA and WGA strikes as insurmountable headwinds for the company’s continued operations. The exec also stated that the company would not be doing press.
The letter states that Bron has filed for creditor protection with the Supreme Court of British Columbia in Canada and Chapter 15 in the United States (the Chapter 15 filing is for cases across more than one country).
In recent months, Bron’s co-financing deals with Metro-Goldwyn-Mayer and Warner Bros. had sunsetted.
“Thank you to our many friends who have been there to support us. Thank you to the BRON team and to our incredible creative, production, and business partners. Thank you to the many production financing partners and our corporate backers for support these many years. Thank you to our various representatives and the many service providers for all the support and patience through a very tough few years at BRON,” Gilbert’s statement concludes. “Your continued support and patience will remain critical during this restructuring process and we will continue to keep you informed as we move through this process.”