Cyber Group Studios known for popular IPs such as Gigantosaurus, Press Start and others will be liquidated, according to a ruling of the Paris Commercial Court. It means that the company’s assets will now be sold part by part to make the payment to the creditors.
As per reports, in November 2024, the company entered judicial recovery process, a form of legal protection implemented after a French company becomes insolvent. The French company was asked to try for financial recovery or completely liquidate despite having four take over bidders namely Hildegarde, Solent Productions, Newen Studios and a joint venture between United Smile, Toonz Media Group and Atlas Global.
Cyber Group Studios marketing and licensing international SVP Christine Blériot who worked in the company for nine years criticised the court’s ruling in a LinkedIn post. “Having contributed (2004/2013) for nine years to developing, alongside its managers and collaborators, the expertise of the studio (several times awarded) and its children’s catalogue, I am shocked by this hasty liquidation, while Solent Production, a potential buyer (for whom I am carrying out a consulting mission) has been coming forward to the court since December 24, with a specific offer, detailed, quantified and supported by the CEO and employees of CGS.”
She further wrote, “So, at the very least, we could have hoped that this offer would be examined, right? Incomprehensible waste! Financing in animation is complex and cannot be compared to any other economic sector except video games. I hope that the teams will soon find their missions.”
Founded in 2005 by Pierre Sissmann and Bourse, Cyber Group Studios is an international producer and distributor of animated programs for children. The company has created and developed a large catalogue of original series, some of which, like Gigantosaurus, have become international franchises.
