It seems the fall of Technicolor Creative Studios is just the start. Without warning, Jellyfish Pictures (Dog Man, Spirit: Untamed) has ceased all global operations following investor-related issues, reports Animation Xpress. Email attempts to contact the company last night bounced back as undeliverable.The studio allegedly began experiencing financial distress last year, following a downturn in their number of animated projects. While the spontaneous shutdown is reportedly temporary, there is no current information on when operations will recommence. Workers reportedly will still be paid through March.The move is even more troubling given the studios recent joyful expansions. Jellyfish established VFX operations in Toronto, Canada in 2024, which followed its Mumbai, India studio launch in 2023.Its an exciting time for Jellyfish Pictures as we continue to grow our talented team of creatives and further expand our operations globally, CEO David Patton stated in 2024. We opened our 200-seat Mumbai studio at the end of last year and believe now is the right time for us to establish a strong presence in the Canadian market.The studio also bolstered its VFX division last year with ILM and NVIX alum Jamie Wood as Head of Compositing and Peter Seager as Head of CG.Rumors have been swirling on Reddit since late last year that the company was headed for disaster, with claims of massive layoffs and rampant animation team mismanagement. The whispers were largely unsubstantiated and unreported - until now.Jellyfish Pictures VFX credits include critically acclaimed feature films The Creator and Asteroid City. Its television projects include The Gentlemen, Constellation, the Oscar-winning live-action short The Wonderful Story of Henry Sugar, Ellen Kuras Lee, Netflixs Kaos, and the fantasy adventure series Nautilus. Journalist, antique shop owner, aspiring gemologistL'Wrenbrings a diverse perspective to animation, where every frame reflects her varied passions.