London, UK Award-winning UK VFX house Jellyfish Pictures, known for its work on Asteroid City, The Wonderful Story of Henry Sugar, Star Wars: The Last Jedi, and the upcoming Black Mirror series, has announced it is suspending all operations while exploring options for sale and investment.In a statement released on Tuesday, the company cited financial struggles exacerbated by the long-term impact of COVID-19, rising operational costs, and disruptions caused by the Hollywood writers and actors strikes.Like so many other companies operating across the VFX, animation, and wider creative industries, weve been battling hard in the face of strong headwinds over the past twelve months, Jellyfish said.The company recently shut down its India division, following last years expansion into Canada. Despite efforts to stabilize finances, Jellyfish has now taken legal steps to protect its business while seeking a potential buyer or investor.Another Major Blow to the VFX IndustryJellyfish Pictures is the latest in a growing list of VFX studios facing financial turmoil. Just last month, Technicolor Creative Studios UKwhich owned MPC, The Mill, Mikros Animation, and Technicolor Gamesshut down, laying off 400 employees.The industry has been facing severe challenges due to rising production costs, reduced project budgets, and shifting studio strategies, leading to mass layoffs and closures worldwide.A Storied Legacy in VFXFounded in 2001, Jellyfish Pictures has been a key player in the global VFX industry, with credits on blockbuster projects including The Woman King, Watchmen, Rogue One: A Star Wars Story, and Lee, starring Kate Winslet.The company had been expanding its presence internationally, with operations in the UK, India, and Canada. However, with financial pressures mounting, it now finds itself at a crossroads.Whats Next for Jellyfish Pictures?The company remains in discussions with key stakeholders in hopes of securing funding or a buyer. The fate of its workforce and future projects remains uncertain as the industry awaits further developments.With VFX studios worldwide struggling to adapt to new financial realities, Jellyfish Pictures suspension is yet another sign of a shifting landscape in the visual effects industry.Stay tuned for updates as the situation unfolds.The post Jellyfish Pictures Suspends Operations, Explores Sale Amid Industry Challenges appeared first on Vfxexpress.