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True Brit Entertainment, the U.K. theatrical distributor that launched less than three years ago, has filed for administration, a British legal process similar to Chapter 11 bankruptcy.
The company, which was founded
by former Lionsgate U.K. & Europe CEO and Marv Studios Group CEO Zygi Kamasa, becomes the latest casualty of the U.K.’s extremely tough distribution market, having failed to ignite the local box office despite critically-acclaimed releases including “The Death of Robin Hood” starring Hugh Jackman.
“In extremely challenging market conditions, the company has taken the difficult decision to enter administration.” Kamasa said in a statement sent to Variety. “An independent specialist has now been appointed to oversee the company and assess the options available, with the aim of achieving the best possible outcome for the company and its creditors.”
True Brit was announced in Nov 2023 with a focus exclusively on U.K. films for theatrical release, launching with a stated aim to invest in and release 4-8 titles a year and co-finance over $50million worth of productions annually. The new venture came with funding led by talent management and entertainment company Three Six Zero, which reps names including Calvin Harris, Frank Ocean, FKA Twigs, plus a minority investment from Matthew Vaughn’s Marv.
The first True Brit release was “The Critic” starring Ian McKellen and Gemma Arterton, which it acquired out of Toronto in 2023 and put in U.K. cinemas the following year. This was followed by the Danny Dyer comedy “Marching Powder,” which hit a high note, grossing more than $4 million in the U.K. and Ireland. But subsequent releases, including Gurinder Chadha’s musical comedy-drama “Christmas Karma” and the boxing drama “Giant,” both of which True Brit co-produced, struggled, as did “The Death of Robin Hood,” which earned under $800,000.
The latest release, the Bella Ramsey-starring coming-of-age comedy-drama “Sunny Dancer,” despite an impressive promotional campaign and buzz from its world premiere in Berlin, also failed to land, underlining the ongoing struggles in the U.K. for independent film.
Upcoming titles for True Brit include Anthony Wonke’s boxing biopic “In the Shadows,” which is due to world premiere later this month at the BFI London Film Festival, and the Maika Monroe-led psychological horror comedy “Victorian Psycho,” which premiered in Cannes. It’s unknown what will now happen to these releases.
Variety‘s sister publication Deadline was first to report the news of True Brit going into administration.
