Published: 5th July 2013
The company behind the classic children’s animation programme Abadas and a number of other popular children’s TV animation series, has gone into administration.
Dinamo Productions Limited, based in Pontypridd, are specialists in children’s animation and have a range of clients across the media industry. The decision comes after a challenging few years for the animation industry in the UK as a whole and the on-going commitment to a large production facility has become a burden on the company’s finances.
David Hill and Steve Wade, from Cardiff-based business recovery specialists Begbies Traynor, have been appointed as joint administrators of the company.
Prior to their appointment, the company ceased trading and all 27 staff were made redundant, however employment has been found for the majority of the staff. The directors are now seeking finance to fund investment and create new production partnerships to secure the future of Dinamo. With clients such as the BBC, S4C and many independent TV production companies, the directors are committed to supporting the animation industry in Wales and the UK.
Mr Hill and Mr Wade are hoping that the company’s heritage will survive through a sale of the business and assets. Mr Wade commented:
“We are looking forward and exploring options where the Dinamo brand will continue to produce and develop content collaboratively with UK and international partners.”
COMPANY BEHIND CHILDREN’S CLASSIC ABADAS PUT INTO ADMINISTRATION/2.
Any parties interested in Dinamo should contact the Cardiff office of Begbies Traynor on 029 2022 5022
David is a chartered accountant and licensed insolvency practitioner. He joined Begbies Traynor in 2003 having previously worked for Grant Thornton, Deloitte and BDO Stoy Hayward. He has a wide range of experience in Corporate Rescue and Recovery including both corporate and personal insolvency.