VFX and post-production business Cutting Edge has officially entered into a Creditors’ Voluntary liquidation, less than a year after being announced as one of the first recipients of the Queensland Government’s $5 million Capital Grants program.

According to a public notice from the Australian Securities and Investments Commission (ASIC), the company was placed into liquidation on June 27, with the decision to wind up the company made following a resolution passed at a general meeting of the members held on the same day. William Paul Cotter, from Robson Cotter insolvency Group, has been appointed as the liquidator tasked with overseeing the process.

It marks the end of a nearly three-decade journey for the company, which had studios in Sydney, Brisbane and the Gold Coast.

With expertise spanning VFX, picture, and sound post-production, Cutting Edge’s Gold Coast team serviced a slew of high-profile productions, such as Nautilus, Land of Bad, Ticket to Paradise, Thirteen Lives, Aquaman, and Pirates of the Caribbean. Earlier this year, the company completed post-production on Queensland-shot US drama Good Cop/Bad Cop, the cast of which was honoured with a Special Prize from the jury of last month’s Monte-Carlo Television Festival.

Last year, the Queensland Government committed to supporting the expansion of Cutting Edge’s Gold Coast base, naming it as one of 12 small-to-medium businesses to receive a grant as part of the $5 million Capital Grants program.

It’s another ominous sign for the VFX industry, which was dealt a blow earlier this year when Technicolor Creative Studios UK Limited filed for administration.

As per Deadline, the Paris-based Technicolor Group, owner of The Mill, MPC, and Mikros Animation, attributed the situation to “post-COVID recovery, a costly and complex separation from the previous group, followed by the writers’ strike leading to a slowdown in customer orders, causing severe cash flow pressures”.

Cutting Edge has been contacted for comment.